Lost Cell Phones: Beware Snooping Will Happen

Are you a fan of mobile banking or are you afraid of embracing the technology?

But what happens when you lose your phone?

April Tucker is prone to losing her cell phone.

April says, "I have lost it traveling. I have put it down."

So she's nervous about mobile banking.

Even though it's catching on with masses, she's still among those who say no way!

April says, "Just having it on your phone is just an additional way for someone to hack into your information."

Is she right?

A recent experiment gives her all the more reason to be concerned.

The computer software company Symantec intentionally lost 50 phones in four cities around the United States, just to see what would happen when they were found.

Special software was installed to track the phones, and what people did with them.

In half the cases, the finder tried to return the phone.

But not before they did a little snooping.

Symantec Spokesperson Kevin Haley says, "People looked at private pictures, they tried to access a banking account, logging into a person's bank."

43 percent actually tried to access banking apps and 57 percent went into a saved password file.

Still, Doug Johnson, with the American Bankers Association's risk management unit, hopes April, and others, reconsider.

He says with proper steps it's safe to bank with your smart phone.

Step one: create a password just to be able to use the phone.

A good idea is to create a mobile password for each of your mobile accounts tied to your money.

It may be a lot to remember but it will protect your funds. {}{}{}{}{}{}{}{}{}{}{}

Another good idea, stay away from those password option hints.

Doug Johnson says, "It kind of defeats the purpose of the password."

There are a lot of new special software and apps to protect you if your phone goes missing.

Kevin Haley says, "There's also some other great technology out there that would let you remotely wipes all your personal information and business information off that phone."

There's even a feature called "scream."

Kevin Haley says, "The scream feature is going to make your phone let out a loud noise, a scream, so you can identify where you've left it."

Or scare a thief into dumping it.

Despite available precautions April remains a skeptic when it comes to banking on anything other than her laptop.

Despite having all the security features you can buy for your smart phone, if you lose it, it's a good idea to contact your bank and alert all three credit agencies.

Before your phone is lost get apps like Apple's "Find My iPhone" and Google Android's "Where's My Droid.

They allow users to remotely find a phone, lock it, or even wipe all data off of it.