The growing frequency of white-collar crime presents international financial systems with a great threat, making forensic accounting a vital tool in the prevention of fraud as well as openness. The paper explores forensic accounting, from its history and methods to its applications in financial crime detection and techniques. The study has taken many past examples and well-known fraud cases such as the Satyam and Harshad Mehta scandals to highlight how vital forensic accountants are for corporate governance, fraud detection, and litigation. Besides covering Benford's law, ratio analysis, data mining, and other forensic accounting techniques, the paper includes various technologies that have transformed the industry into what it is today blockchain, artificial intelligence, and data analytics. These tools deal with the complexities of current financial environments and improve fraud detection and predictability. As it is gaining more importance, it is still full of challenges, such as an unskilled workforce, changing tactics of fraud, and the dangers of cybersecurity. This study indicates that more money must be spent to overcome these challenges by enhancing education for forensic accounting, introducing technology, and reorganizing systems. Forensic accounting is still an important tool in keeping the financial system sound and minimizing the risks of white-collar crimes in a world increasingly connected through fusing old-fashioned methods with the most advanced technological solutions.