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Ernst & Young debuts FBI co-designed anti-fraud software

Email analysis software can sniff out fraudsters before damage is done, claims advisory firm.

fraud

Specialist anti-fraud language-analysing technology has uncovered 3,000 words and phrases that suggest fraud could be about to take place, claims Ernst & Young.

The software, which has been co-developed by Ernst & Young's anti-fraud unit and the FBI, analyses emails to find phrases that are commonly used when fraud takes place.

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 advisory firm, some of the most common phrases used by fraudsters include "cover up", "nobody will find out", "off the books", "grey area" and "failed investment".

The software also looks for phrases that indicate an employee is nervous of eavesdropping, such as "call my mobile" and "come by office".

Ernst & Young claims targeted analysis of suspect email conversations could save companies millions of pounds by uncovering major frauds before they are committed.

Such analysis can also be used to identify the key linguistics used by successful traders, so that others may replicate their techniques, the company added.

Dr Rashmi Joshi, director of Ernst & Young's Fraud Investigation & Disputes Services, said: "Email 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 initially anonymously but with the potential for investigation where a consistent pattern of potential fraud is flagged."

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