Do you know that now the thief only looks for one thing after getting your phone? Your bank details. Don’t forget that as more and more people choose to use digital payment applications, it is not difficult for smartphone thieves to access these wallets. To give an example: According to reports, criminals in Sao Paulo, Brazil stole iPhones not for resale, but to obtain bank details of the owners of these devices and steal their money.

With such incidents exposed, the only way is to be cautious. If your phone is or stolen, follow these steps immediately.

Block your SIM card

The first is to ensure that the phone number will not be abused if you lose the phone. Blocking the SIM card also means blocking all applications on the phone that can be accessed via OTP. You can always get the same number on the new SIM card. This may take a while, but your privacy and mobile wallet are more important.

Block access to mobile banking services

They are within easy reach, so blocking access to these services is very important. Your SIM card and mobile application go hand in hand, because if there is no OTP on the registration number, the transfer be performed, but if the phone is or stolen, both need to be blocked.

Disable UPI payment

A small delay may cost you a painful price. Once denied access to online banking services, the thief may try to fiddle with another function, namely UPI payment, so it also needs to be processed immediately. Deactivate it as soon as possible.

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Block all mobile wallets

They make life extremely simple, but if your phone falls into the wrong hands, mobile wallets such as Google Pay and Paytm are to prove expensive. Get in touch with the app’s help and make sure that no one is granted access until you up the wallet again on the new device.

Report to the police station

Once you have dealt with the above matters, you must report the matter to the authorities. Ask for a copy of the FIR, which you can then use as evidence in case your phone is abused or your money is stolen, despite all measures taken.

Interested in cryptocurrency? We discussed about encryption on the TechnologyShout podcast Orbital with Nischal Shetty, CEO of WazirX, and Alok Jain, founder of Weekend Investing. Orbital can be used on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get podcasts.