Deepfake technology presents significant challenges, blurring the lines between reality and illusion, with critical implications for human rights and regulatory frameworks. This paper seeks to research the complex multifaceted threats posed by deepfakes, including misinformation, the undermining of fundamental rights, and the potential for socio-political unrest. This analysis seeks to uncover the multifaceted threats that deepfake technology introduces, particularly its capacity to distort truth, manipulate public opinion, and infringe upon the dignity and privacy of individuals. The paper conducts a thorough review of existing academic literature, legal case studies, and documented incidents of deepfake misuse, aiming to evaluate how current legal frameworks across various jurisdictions are equipped to manage the rising tide of deepfake-related challenges. In doing so, it highlights significant gaps within these legal systems and the urgent need for a comprehensive, multi-stakeholder approach to develop more effective countermeasures. Central to the discussion is the imperative for policymakers, technology companies, and civil society to collaborate in crafting and implementing robust strategies that can mitigate the harmful impacts of deepfakes. This includes not only enhancing legal and regulatory measures but also fostering technological innovations that can detect and deter the creation and dissemination of deepfake content. Furthermore, the paper proposes a series of legal reforms and policy recommendations aimed at strengthening the existing framework. These suggestions are geared towards safeguarding the integrity of information and ensuring the protection of individual rights in the increasingly digital and interconnected world. By addressing the deepfake dilemma through a holistic and multifaceted approach, the paper underscores the importance of maintaining the delicate balance between technological advancement and the preservation of ethical standards and human rights.