Software developed by the FBI and audit firm Ernst & Young has come up with the most common words used in email conversations among employees doing corporate fraud. Oddly, or perhaps not, none of the words are โfraudโ. Software pinpointed the exact language used in email conversations during a fraud. It can also identify unusual changes in tone that suggest an underlying problem and can be targeted to specific sectors, particularly traders.
According to the audit firm, some of the most common phrases used by fraudsters include โcover upโ, โnobody will find outโ, โoff the booksโ, โgrey areaโ and โfailed investmentโ.
The software of 3000 keywords also looks for phrases that indicate an employee is nervous of eavesdropping, such as โcall my mobileโ and โcome by officeโ. The ten most โfraudulentโ words and phrases in email conversations are:
1. Cover up
2. Write off
3. Illegal
4. Failed investment
5. Nobody will find out
6. Grey area
7. They owe it to me
8. Do not volunteer information
9. Not ethical
10. Off the books
Dr Rashmi Joshi, director of Ernst & Young’s Fraud Investigation and Disputes Services, said: โEmail traffic is only seized upon by regulators or fraud investigators when the damage has been done.
“Firms are increasingly seeking to proactively search for specific trends and red flags โ initially anonymously โ but with the potential for investigation where a consistent pattern of potential fraud is flagged.โ
