LEGAL FRAMEWORK FOR PROTECTING BANKING TRANSACTIONS IN THE METAVERSE AGAINST DEEPFAKE TECHNOLOGY

Abstract

Backgorund: In the virtual world of the metaverse, various activities such as banking transactions and blockchain, despite their positive impacts, are not immune to the risks of financial cybercrime, including the use of artificial intelligence deepfake technology. This technology can create seemingly authentic audiovisual content from individuals or customers, leading to data theft, money laundering, and other financial crimes. This research aims to analyze the legal framework governing banking transactions in the metaverse and blockchain, as well as the legal regulations addressing the protection against financial cybercrimes involving deepfake technology.   Methods: This research employs the doctrinal legal research method. The approach utilized includes the legislative approach (statute approach), conceptual approach, and comparative approach. It also utilizes primary data sources such as laws and secondary data sources like books, journals, and internet resources related to banking transactions in the metaverse and deepfake technology.   Results: The analysis results indicate that the Information and Electronic Transactions Law (UU ITE) and the Financial Services Authority (OJK) regulations in Indonesia do not specifically address banking transactions in the metaverse and blockchain. Additionally, the Personal Data Protection Law and regulations related to crimes involving deepfake artificial intelligence technology are also not specifically accommodated; they currently only have general coverage. This creates a legal vacuum in Indonesia regarding these issues.   Conclusion: There are differences in regulations in each country that govern banking transactions in the metaverse and crypto, as well as regulations on cyber financial crimes. Therefore, the government needs to review existing regulations and reconstruct them to govern banking transactions in the metaverse and blockchain. It is also essential to create specific regulations for the protection of personal data and regulations specifically addressing artificial intelligence.