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 260
- Downloads 0
Financial cybercrime in the Islamic Finance Metaverse
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...
MetaHealth - How will the Metaverse Change Health Care?
We are living in a digital age, and the Pandemic has accelerated innovation in health care and has surfaced new business models and opportunities for health. Beyond the applications in telehealth, supply chain, payments,...
Entrepreneurship in The World of Metaverse: Virtual or Real?
In this study, an in-depth literature review method was applied. Period; It examines academic studies and current information on the internet and its interpretation of entrepreneurship in the metaverse world. For those w...
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...
A multi-criteria approach to rating Metaverse games
Non-Fungible Tokens (NFTs) took the already profitable gaming industry to a whole new level. Before that, people would pay to buy games, and there were also some in-game purchases. But now every item in games is an NFT,...