Effectiveness of Blockchain Technology in Preventing Financial Fraud: A Study Among Public Listed Companies in Malaysia.

The main goal of this research is to examine how well blockchain technology functions to prevent financial fraud. The purpose of this study is to determine whether blockchain technology can effectively combat financial fraud, a type of white-collar crime that is dramatically increasing throughout the world. With this concern, this project aimed to identify the effectiveness of blockchain technology in preventing financial fraud among public listed companies in Malaysia. Since there are only a few studies have analysed various factors that influence financial fraud, this study intends to achieve the aim of the study which is to figure out the level of influence that the factors identified as independent variables on the dependent variable, financial fraud. The primary method is used by the researcher to acquire the data. The three factors examined in this study—immutability, consensus method, and distributed ledger technology—all have a major impact on financial fraud. The data was acquired from staff of public listed companies in Malaysia. Statistical Package of the Social Sciences (SPSS) is used to analyze the correlations between the three factors and all of the factors were shown to have a substantial link with financial fraud in Malaysian public listed companies. This study's findings suggest that individuals and businesses should be aware of the threats of financial theft that exist all around them and the value of having key tools that are resistant to phishing scams. The investigation raises awareness of the application of blockchain technology among customers as well as companies to prevent financial fraud.