Best Practice for auto-flagging watch words

Has there been any progress on this by any chance? I have a use case where I need certain words to cause a post to be flagged as needing to be moderated prior to being published. If a word is recognized in the post, a Moderator would need to approve the post before it goes out. I want free and open discussion in most things, but if they mention certain things in their post, I need to be able to intervene before it is visible to the rest of the community.