Smartphone theft hits more than just the loss of the hardware. Potentially, the thief has access to all your data, passwords, etc., and therefore, identity theft. I spotted this idea to help get your phone back if lost or stolen.
The company on Wednesday launched a new feature to try to combat smartphone theft. Subscribers of the software suite will now get email alerts when someone does something suspicious with their phone, like entering a wrong password too many times or trying to uninstall the security software. The phone also secretly takes a photo of the person fiddling with the device using its front-facing camera, and sends the picture to the Lookout user in an email along with a map of the phone's location.Combating Smartphone Theft With The "Theftie" [cnet.com]