“My phone’s been stolen. How do I make sure my accounts are safe?”
Having your phone stolen is a horrible experience – beyond the stress of losing your device, a major worry is the security of your online accounts, especially your bank accounts. But there are swift actions you can take to protect yourself, as well as proactive things you can do now to help keep your accounts safe from the get-go.
Why your phone’s security matters
Your phone is a gateway to lots of personal information – from photos and emails, to passwords and banking apps. Modern banking apps are designed with robust security features, but a stolen phone in the wrong hands could still cause a lot of damage. Criminals might try to:
Access your banking apps directly if your phone isn’t locked, or if they can guess your PIN or password
Intercept SMS verification codes used for logging into online accounts
Gain access to your email and other apps
According to recent statistics from the UK’s National Fraud Intelligence Bureau, mobile phone theft can open the door to all sorts of other fraud. So acting quickly is key.
Securing your phone when it’s been stolen
Here’s a clear plan of action to take immediately after your phone’s been stolen:
Step 1: remotely lock or wipe your phone
Some smartphones have features that let you remotely lock or even erase the data on your device.
For Apple (iPhone) you can use the ‘Find My’ app on another Apple device or log in to iCloud on a computer. You can mark your phone as lost, lock it with a passcode, and even erase its data remotely.
For Android, you can use ‘Find My Device’ on another Android device or log in via a web browser. Like Apple, you can lock your device and erase data.
Even if you didn’t have these features set up, it’s worth checking in case they were enabled by default.
Step 2: contact your mobile phone provider
Report the theft to your provider as soon as you can. They’ll be able to suspend your SIM card, which will prevent calls, texts, and data usage on your number. This'll stop anyone else using your phone service, including receiving SMS verification codes.
Ask your provider if they could help you block the phone’s IMEI (International Mobile Equipment Identity) number. This can stop the phone from being used on any network, making it less valuable to thieves.
Step 3: change all your important passwords.
It’s important to change passwords for your most critical accounts as soon as you can. Prioritise:
Your email accounts (especially the primary one linked to other services)
Your banking apps and online banking accounts
Social media accounts
Any other apps containing sensitive information, like your address or saved card details
Choose strong, unique passwords for each account (avoid using anything guessable like your birthday or pet’s name). You can even do this automatically by using a password manager. They create, save and auto-fill strong passwords for you, so you don’t need to remember them. They even scramble your passwords, so if a thief or hacker does get in, they can’t see them. Only you can unlock everything with a special master password.
Step 4: contact your bank
Get in touch with your bank and any other financial providers you use, like credit card companies or investment platforms, and let them know your phone’s been stolen. They should be able to place extra security measures on your accounts and monitor for any suspicious activity.
At Monzo, you can reach us 24/7 in the app. You can also freeze your card yourself within the app on another device, or via the web.Monzo site.
Step 5: keep an eye on your account
Keep a close eye on your bank accounts for any unusual transactions or activity, and report anything suspicious straight away. If you have access to the Monzo app on another device, switch on real-time notifications to get alerts as soon as your card is used.
Step 6: report the theft to the police
This can be helpful for insurance claims and could even help you get your phone back. Make sure you take a note of the crime reference number.
How to stay safe in the future
While it’s crucial to deal with phone theft quickly, it’s also a worthwhile reminder to get into good habits around your security. Here are some of the most important things you can do:
Use biometric logins: this means using a fingerprint or facial recognition to access your phone. With biometrics turned on, there’s a limit to what scammers can do and access. You can also set up biometrics for individual apps, so even if someone’s managed to get into your phone, they won't be able to get into your apps.
Turn on Monzo’s added security controls: we built three extra security controls you can opt into to make your account even safer. Each control gives you greater protection when making bank transfers and savings withdrawals over your daily allowance. The first is known locations, where you pick places you’re comfortable moving money from that fraudsters are unlikely to have access to, like your home or work. The second is trusted contacts, where you can choose a friend or family member to double check your transfer. And the third is a secret QR code. We’ll email it to you to print out or store digitally on another device you don’t carry around. Then, when you want to move money, you scan the code to confirm it’s you.
Be careful when using public Wi-Fi: be cautious when accessing sensitive accounts on unsecured public networks. Avoid any that ask you to download something or redirect you to another website.
Keep your software updated: software updates often include vital security patches.
Be wary of phishing attempts: criminals might try to trick you into revealing your login details via fake emails or messages. Learn more about phishing scams here.
Use a password manager: this can help you create and store strong, unique passwords for all your accounts.
Losing your phone is really stressful, but by acting quickly you can significantly reduce the risk to your online accounts. Learn more about how Monzo keeps you safe.
UK residents only. Ts&cs apply.