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It is not just about the phone!

We all know somebody who has had their mobile phone stolen. It is not uncommon.

Everybody then simply assumes that this is to fuel a drug habit or to make a few bucks by selling the device. In many instances, this is no longer the case.

There are growing numbers of events where the stolen device is used to empty bank accounts of the individual who has had their phone stolen.

Hackers can bypass the phone’s passcode or other security measures quite easily. They then have access to the device and everything you have saved on it. They have control over your email – allowing for them to change passwords and add authentication credentials such as fingerprints, etc.

With this access they will go into your internet banking apps, create new beneficiaries and empty your accounts. This is a very real threat. It is happening every day.

You are not covered by the bank for this type of cyber-attack – as they are using your authorised device.

My Top Tip – when your device is stolen. Do not only report it to your mobile service provider. Make sure that you also:

  • Immediately change passwords on your email, social media and cloud services (Gmail, iCloud, etc) accounts
  • Log on to your internet banking and revoke the device’s access – if they cannot use the device they cannot empty your bank accounts
  • Review the limits allowed for transactions on your banking profile

We are living in a hyper-connected world and cyber-crime is evolving. The theft of a mobile phone can be targeted as it is about more than just the phone.

Don’t be a victim.

Let’s get real.

John Mc Loughlin 

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