Explained: How iPhone passcode is helping thieves steal your money and data

"With only the iPhone and its passcode, an interloper can within seconds change the password associated with the iPhone owner's Apple ID," said the report

The passcode in iPhones that helps people unlock their devices is now giving thieves easy access to steal their money and data at public places.

According to Wall Street Journal, using a remarkably low-tech trick, thieves watch iPhone owners tap their passcodes, then steal their targets' phones and their digital lives.

A 31-year-old senior economist at a workforce intelligence startup lost all photos, contacts and notes in her iPhone 13 Pro Max which was snatched at a bar in Midtown Manhattan and about $10,000 vanished from her bank account in just 24 hours.

"With only the iPhone and its passcode, an interloper can within seconds change the password associated