Framework for Mitigating Phishing E-mail in the Kenyan Banking Industry Using Artificial Intelligence (AI)

Abstract

Purpose: Phishing is a significant cybercrime threat that affects individuals and organizations globally, including the banking industry in Kenya. The sophistication of phishing attacks continues to increase, and it is increasingly challenging traditional security measures to mitigate these threats. The purpose of this thesis is to build a framework for mitigating phishing e-mail attacks in the banking industry in Kenya using artificial intelligence. Phishing emails are among the most common techniques of cyber-attacks utilized by assailants to gain unauthorized access to sensitive information such as financial details, personal information, and login credentials. These attacks can have devastating effects on the victims, leading to financial loss, reputation damage, and even identity theft.

Methodology: The framework development consists of four main stages: data collection, data preprocessing, model training, and deployment. In the data collection stage, a dataset of phishing and non-phishing emails is gathered from various sources such as public databases, dark web forums, and bank employees mail. In the data preprocessing stage, the collected data is cleaned, preprocessed, and labeled. In the model training stage, machine learning algorithms and NLP techniques is used to develop a robust phishing and non-phishing emails detection model. In the deployment stage, the model is integrated into the bank's email system to detect and block phishing emails in real-time. The framework is then evaluated using a dataset of phishing and non-phishing e-mails collected from the banking industry in Kenya. Various metrics such as accuracy, precision, recall, and F1-score are used to evaluate the framework. The framework is able to detect new phishing e-mails that were not previously included in the dataset, demonstrating its ability to adapt to new threats.

Findings: The framework is based on a hybrid approach that combines machine learning algorithms, natural language processing (NLP) techniques, and human expertise that identify and prevent phishing emails from reaching their targets. The four main components of this framework include e-mail filtering, feature extraction, classification, and response. The e-mail filtering component uses several algorithms to identify and filter suspicious e-mails. The feature extraction component analyzes the content of the e-mail and extracts relevant features to help classify the e-mail as either legitimate or phishing. The classification component uses machine-learning algorithms to classify the e-mail as either legitimate or phishing. Finally, the response component takes appropriate action based on the classification results.

Unique Contribution to Theory, Practice and Policy: The framework provides an effective way to identify and mitigate phishing e-mail attacks, reducing the risk of data breaches and financial losses.