A high-ranking bank executive had an unsolicited $30K loan made under his name. All of this because he mis-placed his phone for a few minutes. Setting a strong passcode on an iPhone only secures the phone, however the cellular line is a totally different matter.
Your iPhone may be secure, with 7-digit passcode, biometric lock, and Apple’s strong on-device encryption. However is your SIM card secure as well?
If someone stole your iPhone, it may well be they can’t access your data. Thanks to activation lock, they probably won’t be able to re-sell the device as it is – best case is to make use of its screen, battery, and enclosure as spare parts.
But if the stolen iPhone has an unlocked SIM card, it may well be significantly more valuable than the iPhone itself. How? By stealing your identity.
