Earlier this year, The Wall Street Journal published an in-depth report highlighting instances of thieves watching iPhone owners enter their passcode before stealing the device in order to gain access to the device, data, and money.
With knowledge of the iPhone’s passcode, a thief can easily reset the victim’s Apple ID password in the Settings app, even if Face ID or Touch ID is enabled. It also allows a thief to use Apple Pay, send Apple Cash, and access banking apps using passwords stored in iCloud Keychain.
“We sympathize with users who have had this experience and we take all attacks on our users very seriously, no matter how rare,” said Apple in response to the report. “We will continue to advance the protections to help keep user accounts secure.”
Read more at MacRumors.com