Kaspersky shares five-step action plan for lost phones as theft fuels fraud and identity theft risks

May 14, 2026 in Companies, Technology & Telecoms by Editor

Cybersecurity firm Kaspersky has released a five-step emergency response guide for smartphone users amid growing concerns that stolen or misplaced devices are increasingly becoming gateways for financial fraud, account compromise and identity theft.

 

Android users who had pre-activated advanced security features such as SIM Watch could automatically lock devices if thieves insert a new SIM card.

 

Cybersecurity company Kaspersky has issued a new consumer safety advisory warning that losing a smartphone today carries risks far beyond the inconvenience of replacing a device, with stolen phones increasingly becoming entry points for financial fraud, digital account compromise and identity theft.

The company this week released a five-step action plan designed to help users respond quickly in the critical minutes after discovering a phone is missing.

Kaspersky said modern smartphones now contain sensitive financial, personal and professional information that can expose users to significant losses if devices fall into the wrong hands.

“In the routine of daily operations, it is easy to overlook how many critical aspects of our digital lives are tied to our mobile devices,” said Dmitry Kalinin.

“Losing a phone may lead not only to inconvenience, but also to data loss, compromised access to essential accounts, or even identity theft,” he added.

The company advised users to first attempt locating missing devices through built-in tracking services such as Android’s Find My Device or Apple’s Find My iPhone functionality.

Kaspersky users can also locate Android devices through the company’s “Where Is My Device” feature available via the My Kaspersky web portal.

Cybersecurity experts say device tracking systems have become increasingly important as organised phone theft networks target smartphones not only for resale but also for access to banking applications, digital wallets and social media accounts.

The second step, according to Kaspersky, is immediately placing the phone into “Lost Mode” and remotely locking the device to prevent unauthorised access.

The company warned users to remain alert for secondary scams in which criminals attempt to contact victims pretending to help recover devices while seeking passwords, verification codes or banking information.

“Your mobile phone can be used for calls or messages from your number with requests for money or questions, all of which should be ignored,” the advisory stated.

Kaspersky also recommended that users immediately contact mobile network operators to block SIM cards and notify banks to suspend cards or unlink accounts associated with the missing device.

Analysts note that SIM hijacking has become an increasingly common tactic among cybercriminals because many financial platforms still rely on SMS verification codes for account recovery and transaction authentication.

The company further advised users to reset passwords for important services and secure password managers to limit exposure in case devices are compromised.

Kaspersky said Android users who had pre-activated advanced security features such as SIM Watch could automatically lock devices if thieves insert a new SIM card.

The company also highlighted anti-uninstall protection features designed to prevent thieves from removing security applications from stolen devices.

Beyond immediate security measures, Kaspersky stressed the importance of regular cloud backups to enable recovery of photos, documents, messages and contacts.

“If you had enabled device backups before the loss, you can restore almost everything, from contacts and photos to text messages,” the company said.

Where recovery becomes impossible, Kaspersky advised users to remotely erase all data from devices using Apple, Google or Kaspersky management platforms.

The company also encouraged users to take preventative precautions before incidents occur, including enabling automatic backups, activating location tracking, setting immediate screen auto-locks and securely storing sensitive documents and passwords.

Analysts say smartphone theft increasingly overlaps with cybercrime as criminals target devices not only for hardware value but for the personal data ecosystems connected to them, including banking apps, authentication tools, cryptocurrency wallets and business accounts.

Kaspersky argued that proactive security preparation remains the best defence against the growing financial and identity risks associated with lost or stolen devices.