8 things to do to protect your money when your smartphone is stolen


Your smartphone contains a lot of personal information, including your online banking details and mobile wallets. A new trend is seen around the world where thieves are stealing cell phones to access banking information and other personal data instead of just reselling your device for quick cash. So instead of only worrying about the smartphone you lost, you should also be careful to protect your money from online fraud. Here are 8 things you should do immediately to protect your money when your smartphone is stolen.


Call your telecom operator and have your SIM card blocked immediately

Immediately block the SIM card, so thieves cannot access financial services OTPs or other personal messages. Of course, you can continue to use the same mobile number with a new SIM card. But the whole process of getting a new SIM card for your old mobile number can take some time. This period is crucial and thieves can take advantage of it. So, be sure to do the following to stay safe.

Gadgets Now


Block internet and mobile banking access

The moment you lose your cell phone, call your bank and block access to online banking services. If thieves can access your bank accounts, they can easily transfer money as they will continue to get OTPs on your mobile. This is important because it may take some time for your carrier to block your SIM card.

Gadgets Now


Visit your bank in person and change the mobile number associated with your bank account

You are advised not to use the same phone number for banking services after your phone is stolen. Go personally to your bank to change the cell phone number, reset all passwords and only then start using Internet banking services again.

Gadgets Now


Go to the nearest Aadhaar center to change your mobile number

If thieves have access to Aadhaar authentication, then they can start impersonating you to carry out bigger scams. You are strongly advised to visit the nearest Aadhaar center to change your cell phone number immediately after your cell phone is stolen.

Gadgets Now


Disable UPI payment from your linked bank accounts on this phone number

After blocking online banking, don’t forget to turn off UPI and other mobile wallets linked to that particular mobile number.

Gadgets Now


Block access to Paytm, Google Pay or other mobile wallets

Contact the mobile wallet service provided through the app or by calling a verified help desk to block access to Paytm, Google Pay, and other mobile wallets that may be linked to your phone number.

Gadgets Now


Block access to social media accounts, emails and other online services

It is strongly recommended that you immediately deactivate all your email credentials and social media accounts linked to the stolen mobile number when your phone is stolen. By doing this, thieves will not be able to commit scams targeting your loved ones.

Gadgets Now


Go to the nearest police station and report it

After securing your money, go to the nearest police station and report the incident. Also, don’t forget to take a copy of the FIR as it will be required as proof for banks or holding companies in case someone steals money from your bank account.


About Author

Leave A Reply