My 2 tria's on this subject and how it might work....
1. A player should be able to pick pocket Rogues and such for loot. If it fails, the Rogue would be considered attacked, and would pursue the thief as such.
2. An icon similar to the "trade" icon should be available to thieves when they want to pickpocket.
3. To pick another players pocket, the thief would click the "pickpocket" icon after right clciking on the target player.
4. Depending on success rate, a marker may be left in the victim's inventory. A "clue". The player may "view" this marker by right clicking on it. A window would open on it, much like examining a weapon. Information about the thief may show on this marker, such as "What was taken", "Race of the thief", "color of hair, skin, etc", or, with a massive failure even "Name of thief". This would allow the player some recourse. The player could, if they wish, turn this marker in to the authorities...the proper NPC. The accumulation of too many markers would provide a description or identity of a thief and lead to an arrest warrent. I think this could be incorporated as an involuntary trade. The thief would get a random number of coins, based on what the target is carrying. It should be a low number, but may be tria's or circles, depending on the target.
5. If a thief has an arrest warrant, he is subject to non-lethal PvP at any time. If he is defeated, he goes to the stockade, and the player defeateing him gets a reward.
6. Once the thief serves his time in the stockade, his "markers" reset to 0 with the authorities.