Research on the Application of Financial Fraud Technology Governance in China

Abstract

The problem of financial malpractice in listed companies has emerged since the beginning of accounting and has not been completely solved. Throughout the development of China's securities market in the past 30 years, although it is becoming more and more mature, the problem of financial malpractice has always been a pain point in the development of the securities market. The fundamental reason is that listed companies are driven by various interests. Therefore, employing effective methods to preclude and manage financial fraud within listed companies has become a crucial matter for market health. In recent times, blockchain has entered the public eye, and its inherent technological features make it the ideal tool for suppressing financial fraud. As such, this paper analyzes the current situation of financial fraud in China, combines the emerging technology of blockchain in China, and fits the advantages of blockchain with financial fraud. By doing so, it aims to contribute to the improvement of China's financial fraud situation, and to offer some solutions to the problem of accounting fraud in China through the application of blockchain technology.