FINANCIAL TECHNOLOGY AS AN ANTI-CORRUPTION TOOL: A REVIEW OF BLOCKCHAIN, AI, AND RegTech APPLICATIONS

Abstract This review examines how emerging financial technologies, particularly blockchain, artificial intelligence (AI), and regulatory technology (RegTech), can serve as tools in the global effort to combat corruption. Drawing from case studies, regulatory literature, and forensic applications, the paper critically evaluates the technological affordances and governance challenges associated with these tools. The promise of blockchain's immutability, AI’s predictive capabilities, and RegTech’s compliance automation are assessed within the frameworks of institutional trust, accountability, and data transparency. However, the paper cautions against techno-optimism, emphasizing that without robust institutional backing and contextual adaptability, these technologies may be co-opted or rendered ineffective. The paper proposes a taxonomy of corruption types, discusses socio-technical risks, and highlights both successful and failed FinTech applications across jurisdictions. Ultimately, the study advocates for an integrated, ethics-sensitive approach that embeds technological solutions within broader policy, regulatory, and civil society frameworks.