ROLE OF BLOCKCHAIN TECHNOLOGY IN REDUCING FRAUDS AND FINANCIAL CRIMES

Abstract

This research examines how blockchain might cut down financial scams while making modern banking safer. Instead of just adding AI to blockchain, it studies smart rules, privacy fixes, and problems when systems don't link well - focusing on shared control, locked-in records, and solid code that catches sneaky deals. Rather than guesswork, it runs number tests - like correlations, t-tests, regressions, and ANOVAs - to see how things such as system room to grow, clearer laws, hiding info but still showing proof, and blending tools actually connect. Findings reveal strong ties between these pieces lifting business profits, real concerns over messy rules begging for global agreement, yet similar opinions from all genders on mixing AI with blockchain. The study helps make sense of problems like energy use, costs, confusing rules, or keeping data secure in blockchains. Results guide officials, financial groups, but also developers to create setups that stay protected, run smoothly, while meeting regulations.