It's pretty basic. For UPDATE, it's matching anything with UPDATE followed by SET, followed by a dollar sign+alphanumeric
And, it's specifically going after dynamic table names. Hmm.
'/UPDATE\s+.*?\$[a-zA-Z0-9].*?\sSET.*?/i', // UPDATE $table SET ...
Edit: You can also escape the scans by using variable names that start with an underscore :) $_dontscanme