Email marketers are being warned to avoid certain phrases at all costs, after fraud investigators revealed the most common words used in email conversations by employees engaged in dodgy practices.
Ernst & Young’s Fraud Investigation and Dispute Services Practice has pinpointed the common phrases uses by wrongdoers in collaboration with the FBI.
Analysis of data from corporate investigations revealed that the most common fraud phrases include such innocuous terms as “special fees” and “friendly payments”, although the vast majority – such as “cover up”, “write off” and “grey area” – are unlikely to be used within a marketing campaign.
Investigators identified more than 3,000 terms using specialist anti-fraud software, which monitors suspect conversations, and if used in an email would see the message flagged up or even blocked altogether.
Anti-fraud software also scans for “out of band” events such as “call my mobile” or “come by my office”, suggesting the writer does not want to be overheard.
Despite email being the prime means of all conversations between employees, officials and external parties, such unstructured data plays almost no role in the compliance efforts of firms, according to Rashmi Joshi, director of Ernst & Young Fraud Investigation & Disputes Services.
“Most often such email traffic is only seized upon by regulators or fraud investigators when the damage has been done. The analysis of language, statistics, and call data alongside professional judgement can help in identifying rogue trader behaviour, breaches of material non-public information, fraud and abuse, and other employee misconduct,” she said.
