Q&A – Nuke From Orbit
James O’Sullivan, CEO and Founder, Nuke From Orbit
1) Who is Nuke From Orbit and how was the company founded?
Nuke from Orbit is a first-of-its-kind digital panic button that decreases the impact of a security breach when you’re most at risk. We provide the instant invalidation of stolen data via a consumer-friendly app with security at its core, allowing users to shut down access to all personal data. Banking, crypto, health, social media profiles, store accounts, email, etc., are all closed off, so criminals cannot use logins and account information to spend their money and scam others in your name.
I founded Nuke From Orbit after my phone was stolen and thousands of pounds were lost from my accounts. Attempts to track the device revealed that my Apple ID password had been changed, and there was no way to wipe the device remotely.
Panic set in as I discovered tens of thousands of pounds spent from cards in my digital wallet. Immediately cancelling them proved impossible. Without my phone, accessing banking apps and 2FA (two-factor authentication) to invalidate my stolen data was out of reach — a frustrating catch-22.
It seemed ridiculous that there wasn’t a one-and-done way of shutting everything down – not just bank cards and apps, but email, social media and all the other services and subscriptions living on our phones.
It got me thinking that, as a society, we are storing increasingly personal information on our phones, so if they get stolen, we don’t just lose our contacts; we lose our entire identity.
2) What is the issue/problem you are looking to solve?
We entrust an increasing amount of sensitive information to our phones, and losing them isn’t just about lost contacts; as I painfully learned, the consequences run much deeper.
This experience exposed a critical gap: the lack of a single solution to shut down everything instantly – the nuclear option – when the worst happens. So, I envisaged a button that disables access to not just banking and apps but also email, social media, and all the services tied to our phones and each other.
All the advances in security over the previous decades have been focused on preventing an unknown attacker from gaining access to your accounts. The centralisation of so much data in a single, portable device has added another dimension to the problem. With a simple PIN code, someone can convincingly pass as you in many digital ways, so there needs to be a mechanism for disaster mitigation instead of just access prevention.
3) What do you hope your company will achieve?
Our mission is simple: stop people from going through the same experience I did. And it’s more common than you think. A phone is reported stolen every six minutes in London, and while we don’t have the exact data to show how many of these thefts translate into second-wave attacks, we conducted market research, which shows that it’s high. The research also highlighted that mobile phone theft is not just about financial loss; users have enough information stored on phones to give criminals an easy route to personable identifiable information (PII) fraud. These details can be sold and resold, leading to serious reputational damage and phishing requests sent to your contacts.
4) Why do you think a solution such as yours hasn’t existed until now?
Timing is the main reason. Despite an early launch in 2015, mobile wallets got serious traction nearer 2020, when COVID-19 impacted a lot of advancements. Remote working and a reliance on online activities during COVID saw security measures increase in prevalence, such as One-Time Passwords, 2FA and the like. Couple this with smartphones dominating as the keeper of sensitive information, and we’re now in a situation where this problem needs a solution.
The tipping point for me was the introduction of app verification for card payments. This has had such a profound impact on card-not-present fraud that criminals must look for something else. Criminals have returned to the ‘shoulder-surfing’ tricks that existed around ATMs for years, but now, rather than one card, they can access them all.
Before the Open Banking revolution, a start-up tackling a widespread problem endemic in our society would have been prohibitively challenging. But now that third-party access to consumer banking through APIs has become easier, now is the time to tackle this issue. Open Banking and A2A payments will likely be the next evolution in payments, requiring confirmation through apps, which is why we must act now.
Finally, this is such an across-the-board problem that it needs to be tackled by an entity that isn’t already involved in a heavyweight tussle. Without an agenda, we can work with all these partners, ensuring their customers get the best protection.
5) Why is data so important to cyber criminals?
Data is the lifeblood of every business — even if that business is illegitimate. The phrase ‘data is king’ highlights just how valuable data is in the digital era. As thieves become more sophisticated in their approach, so must the defences.
Stolen data is leveraged for financial gain through direct access to bank accounts, email, or other online services that can be used to steal money or gain access to even more crucial information. Cybercriminals can use sensitive data, like personal photos or business documents, to blackmail victims into paying a ransom. The latter presents a risk not just to the individual but also to corporations.
Identity theft also causes huge issues. Criminals can use stolen Personal Identifying Information (PII) such as name, address, and National Insurance numbers (all likely stored on the victim’s phone) to open new accounts, make fraudulent purchases, launder money, or even set up businesses in the victim’s name.
We are scratching the surface of what’s possible here, but the more people rely on smartphones to manage their lives, the more data there is at risk of falling into the wrong hands.
6) How will the Financial Services industry benefit from your app?
Nuke From Orbit reduces the window for fraud to take place and the administrative costs businesses face in dealing with account takeover (ATO). The app ensures customers are better protected, fraud prevention teams are less stretched, payouts to fraud victims are reduced, and unnecessary reputational damage is avoided.
Financial institutions need protection, too. It was reported last year that a pickpocket stole a mobile phone and used the individual’s banking apps to steal £22,500. The bank found the victim of this theft liable for the loss; however, the Financial Ombudsman Service (FOS) upheld the complaint. Consequently, the bank was found liable and not only had to pay the £22,500 but also had its reputation tarnished in the national media.
The Nuke From Orbit app is a solution for these financial institutions to ensure this never happens again.
7) Fraud is on the rise, so how will your app protect the customer from fraud?
Time. It’s the one thing people never have enough of, especially when under pressure to lock down their digital identity. How do you prioritise what is blocked first? Bank accounts? Cards? Email? Social Media? Business critical systems? What’s the hierarchy of priorities here? And how much delay is enough for things to go sideways? It is crucial to get to your accounts before the cybercriminal does. With a rise in fraud scams, Nuke From Orbit aims to remove the complexity and decision-making when you are inevitably panicking by locking down everything simultaneously. It buys you the time you need to regain control of your digital life and assets.
8) Finally, you recently raised a pre-seed funding round of £500k – what are your plans with the funding and the future?
We are using the funding to prepare the technology for public beta testing in the UK market in late 2024 and expand the team to bring partners on board. Beyond that, the plan is to take the service global, prioritising countries with high smartphone adoption, higher crime rates and strong traction in modern financial services.
Jesse Pitts has been with the Global Banking & Finance Review since 2016, serving in various capacities, including Graphic Designer, Content Publisher, and Editorial Assistant. As the sole graphic designer for the company, Jesse plays a crucial role in shaping the visual identity of Global Banking & Finance Review. Additionally, Jesse manages the publishing of content across multiple platforms, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.