The nexus between blockchain distributed ledger technology and financial crimes

Purpose: The study sought to uncover the effect of blockchain digital ledger technology (BCDLT) on financial crimes. The study was driven by the need to promote blockchain technology in a bid to enhance financial sanity through elimination of financial delinquency. Research methodology: The study...

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Main Authors: Newton Chinyamunjiko, Forbes Makudza, Lucia Mandongwe
Other Authors: Department of Accounting and Finance, Midlands State University, Gweru, Zimbabwe
Format: research article
Language:English
Published: Goodwood Publishing 2023
Subjects:
Online Access:https://cris.library.msu.ac.zw//handle/11408/5359
https://doi.org/10.35912/ijfam.v4i1.815
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author Newton Chinyamunjiko
Forbes Makudza
Lucia Mandongwe
author2 Department of Accounting and Finance, Midlands State University, Gweru, Zimbabwe
author_facet Department of Accounting and Finance, Midlands State University, Gweru, Zimbabwe
Newton Chinyamunjiko
Forbes Makudza
Lucia Mandongwe
author_sort Newton Chinyamunjiko
collection DSpace
description Purpose: The study sought to uncover the effect of blockchain digital ledger technology (BCDLT) on financial crimes. The study was driven by the need to promote blockchain technology in a bid to enhance financial sanity through elimination of financial delinquency. Research methodology: The study followed a quantitative paradigm using an explanatory research design. The study targeted financial executives, senior staff members at the Zimbabwe stock exchange, bankers and officials from the financial regulators. Data was collected using a structured questionnaire. Results: The study found out that of the four independent BCDLT antecedents, manual audit costs were insignificant, whereas the other three had strong positive associations with financial crime reduction. Limitations: The study targeted a specific group of financiers; hence the results may not be universal to other excluded categories Contribution: The study significantly guides policy formulation and laws in line with the adoption of the blockchain technology in the global financial system to guard against the possibility of new forms of financial crimes that could emanate from the use of technology.
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spelling ir-11408-53592023-03-02T14:04:18Z The nexus between blockchain distributed ledger technology and financial crimes Newton Chinyamunjiko Forbes Makudza Lucia Mandongwe Department of Accounting and Finance, Midlands State University, Gweru, Zimbabwe Department of Business Management, Manicaland State University of Applied Sciences, Mutare, Zimbabwe Department of Accounting, Manicaland State University of Applied Sciences, Mutare, Zimbabwe Blockchain digital ledger technology Financial crime Financial performance Purpose: The study sought to uncover the effect of blockchain digital ledger technology (BCDLT) on financial crimes. The study was driven by the need to promote blockchain technology in a bid to enhance financial sanity through elimination of financial delinquency. Research methodology: The study followed a quantitative paradigm using an explanatory research design. The study targeted financial executives, senior staff members at the Zimbabwe stock exchange, bankers and officials from the financial regulators. Data was collected using a structured questionnaire. Results: The study found out that of the four independent BCDLT antecedents, manual audit costs were insignificant, whereas the other three had strong positive associations with financial crime reduction. Limitations: The study targeted a specific group of financiers; hence the results may not be universal to other excluded categories Contribution: The study significantly guides policy formulation and laws in line with the adoption of the blockchain technology in the global financial system to guard against the possibility of new forms of financial crimes that could emanate from the use of technology. 4 1 17 30 2023-03-02T14:04:17Z 2023-03-02T14:04:17Z 2022-06-10 research article https://cris.library.msu.ac.zw//handle/11408/5359 https://doi.org/10.35912/ijfam.v4i1.815 en International Journal of Financial, Accounting, and Management (IJFAM) 2656-3355 open Goodwood Publishing
spellingShingle Blockchain digital ledger technology
Financial crime
Financial performance
Newton Chinyamunjiko
Forbes Makudza
Lucia Mandongwe
The nexus between blockchain distributed ledger technology and financial crimes
title The nexus between blockchain distributed ledger technology and financial crimes
title_full The nexus between blockchain distributed ledger technology and financial crimes
title_fullStr The nexus between blockchain distributed ledger technology and financial crimes
title_full_unstemmed The nexus between blockchain distributed ledger technology and financial crimes
title_short The nexus between blockchain distributed ledger technology and financial crimes
title_sort nexus between blockchain distributed ledger technology and financial crimes
topic Blockchain digital ledger technology
Financial crime
Financial performance
url https://cris.library.msu.ac.zw//handle/11408/5359
https://doi.org/10.35912/ijfam.v4i1.815
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