Financial cybercrime in the Islamic Finance Metaverse
Journal Title: Journal of Metaverse - Year 2022, Vol 2, Issue 2
Abstract
Financial cybercrime in the metaverse has become increasingly more significant for authorities, corporations, and individuals to address, requiring new regulatory and compliance frameworks, as well as novel cybersecurity mechanisms in order to prevent these crimes. Financial cybercrimes in the metaverse have increased in the last years significantly, with either the massive stealing of cryptocurrencies from exchanges or the sale of fake or dubious NFT and other financial products that have lost significant value within a short period of time. Cybercrimes in the metaverse have taken place at significant scales and given the infancy of regulations as well as the virtual nature of these activities, only few crimes have been prosecuted. Islamic finance may represent a considerable opportunity for the metaverse via connecting the financial services and instruments to real and virtual assets free of speculation. The article provides several recommendations for regulators to address these cybercrime challenges and how Islamic finance can assist in these cybercrimes.
Authors and Affiliations
Klemens KATTERBAUER, Hassan SYED, Laurent CLEENEWERCK
Keywords
Related Articles
- EP ID EP707176
- DOI -
- Views 167
- Downloads 0
Metaleisure: Leisure Time Habits to be Changed with Metaverse
New habits that will come into our lives with a metaverse will create the concept of Metaleisure. With the introduction of virtual platforms into our lives, the mass of people spending their leisure time on the Internet...
Computer Vision in the Metaverse
Metaverse is a rapidly developing new technology today. The purpose of this article is to examine this technology from a computer vision and general perspective. In this study, a comprehensive review of Metaverse concept...
Tweet Classification and Sentiment Analysis on Metaverse Related Messages
The data obtained from social media platforms is a popular study subject nowadays. These studies give important information about the thoughts of the society towards an event, situation, or concept. For this purpose, sev...
A Content Analysis of the Metaverse Articles
Metaverse, which was first defined as fictional about 20 years ago, refers to a virtual universe where people feel entirely mentally with engaged augmented virtual reality devices today. The first applications of metaver...
From physical reality to the Metaverse: a Multilayer Network Valuation
The physical reality can be partially mapped with network theory, showing the edging links between connected nodes, and their spatial and intertemporal dynamic interaction. The Internet is a network of networks represent...