Apple plots major iPhone change that prevents thieves from emptying your accounts after victim lost thousands

APPLE has tabled plans to introduce a new Stolen Device Protection iPhone feature that blocks thieves from emptying their victims’ bank accounts.

With our lives increasingly entwined with our phones, the consequences of theft are more dire than ever before.

A prevalent iPhone theft method, revealed recently by The Wall Street Journal, sees thieves watch victims entering their phone passcodes before making their move.

Once the device is in the hands of thieves, the criminals quickly change the Apple ID, granting them control to deactivate security features like Apple’s Activation Lock or Lost Mode.

The original owner then loses access to their account and iCloud data – as well as all their saved passwords.

One victim reportedly lost an eyewatering $10,000 (£7,800) from their bank account.

While another victim had $1,500 (£1,200) emptied from their Venmo wallet, alongside thousands from their bank account. 

Apple’s new feature is currently undergoing beta testing, and may be included in the upcoming iOS 17.3 update.

Beta testers are being met with a new pop-up, saying: “Testing is now available for Stolen Device Protection.

“This new feature adds an additional layer of security in the unlikely case that someone has stolen your phone and also obtained your passcode.”

Under the Stolen Device Protection mode, accessing your saved passwords and changing your Apple ID credentials will require Face ID to “be sure it’s you”.

Changing sensitive settings like your Apple ID password will also be protected by a security delay.

This is a location-sensitive delay that can buy victims more time before their device gets wiped, and their bank raided.

During this delay, the victim can choose to track their device using the FindMy network, remotely wipe their iCloud content, and file a lost device insurance claim with Apple.

Victims can also file a theft report with police and their mobile carrier, which will allow their network provider to disable the mobile SIM functions.

No delay will be required when the iPhone is at familiar locations, such as home and work.