Yes absolutely willard. I just read a blog post which had three backlinks to \"product\" and if you look at the URL there are embedded affiliate codes.
For instance
www.thegolfspace.com in the destination URL would be ok, but
www.thegolfspace.com/aff=23497prg=50240-id340 or some gibberish like that is obviously an affiliate code.
Another obvious recent spam was a link to what looked like a blog which had about 500 ads on one page. google ads everywhere.