25 August, 2022
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3 Ways to Prevent Smartphone Theft

25 August, 2022

The average smartphone costs almost $320, so it’s no surprise they’re one of the most commonly targeted items for theft. Read on to find out how you protect yourself.

Spreading awareness of smartphone theft is essential. An estimated 66,000 smartphones are stolen every year in the UK alone, amounting to a staggering £27 million in losses. In the US, where over 80% of the population own a smartphone, roughly one in ten device owners are likely to be victims of theft.  

Luckily, from an owner’s perspective, there are several things you can do to better protect yourself from smartphone crime. Read on to find out how. 

Always keep your phone out of sight

We’re all familiar with the phrase ‘out of sight, out of mind’. Well, here’s another useful one — out of sight, reduced risk of crime.

We’re constantly using our phones, often placing them in easily accessible locations. The problem, however, is that this same ease leaves us vulnerable to theft. If your device is visible in a public setting, you’re far more likely to become a victim of smartphone crime. 

Restaurants and bars are particularly high-risk. Due to their busy nature, these areas are commonly targeted because of the hustle and bustle and likelihood of people letting their guard down. In fact, 44% of smartphone victims record having their phone stolen in a public setting. 

Even when at work

Thanks to the mass adoption of mobile devices, an “always on” culture dominates modern workplaces. Most employees are never out of reach of a mobile device, often ready to respond to an email instantly..

Surprisingly, the workplace, often thought of as a safe, secure space, is a hotspot for mobile device crime. Whether laptops or tablets, personal or work phones, offices house a plethora of expensive equipment. 

Much like how restaurants and bars are places of comfort, few would expect a colleague or workplace visitor to snatch a device right under the company’s nose. For that reason, many assume that they don’t need to lock their devices when they’re away from their desks. Yet employee theft costs US businesses around $50 billion a year. 

Sensitive data and pricey hardware are dollar signs in the eyes of thieves, meaning nothing is off limits. Ensure your device is password protected if you’re leaving it unattended at work. 

Passcodes and multi-factor authentication

Password protection is the primary obstacle for criminals hoping to cash in on stolen items. If a device is locked, its value on the secondary market is significantly reduced, lessening its appeal.

Most smartphone users password-protect their devices, providing a single layer of security to prevent thieves from accessing the data they store. However, criminals can now bypass passcodes by triggering recovery mode or restoring the device to factory settings.

Multi-factor authentication (MFA) is a far more secure method of restricting access and demands users to provide two or more verifying credentials when attempting to access a device. For example, when opening a mobile banking app on your phone, you may be asked to confirm via email that it was really you attempting to log in.

Using MFA, you’ll be alerted to any suspicious activity on both your mobile device and subsequent accounts, by triggering lockdown and security protocols that protect your data and restrict access to financial information.

NanoTagging

Wireless devices that are NanoTagged are traceable and contain a unique identity code connecting you to your device, preventing theft and improving recovery times. 

NanoTags, using Microdot technology, are virtually invisible and very difficult to detect, making them a highly effective deterrent. It’s almost impossible to remove a cluster of tags. Warning security labels let thieves know that the device is NanoTagged and that, even if the device is disassembled, they’ll struggle to sell it on the secondary market.

Due to their traceable features, NanoTagged stolen devices can be digitally located and recovered by the local authorities before being returned to the rightful owner.

LOX Network: A blockchain-based solution to the global device crime problem

At LOX Network, we’ve created the world’s first global decentralized blacklist in our mission to eliminate smartphone theft. Our all-in-one SmartLOX application empowers users with the ability to block, blacklist, and set a reward for the successful return of their device.

We’re utilizing NanoTag technology to enable the SmartLOX mission and return stolen devices to their rightful owners. Visit our website for more information and join our community for the latest news and updates on all things SmartLOX. 

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Jeremy Rodgers
Content Manager

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