If the user enters the wrong password several times and then is connected to the Internet, the company will locate the computer through its Internet protocol address, information that can help law enforcement agencies recover the computer, Lide said.

CNN: Mobile PCs can be risky on the road

This is very convenient, but if that username and password falls into the wrong hands, you can find yourself very quickly in a world of pain.

FORBES: The Dangerous Side Of Apple's iCloud

Unless care is taken to password protect a phone, the risk of this financial related information getting into wrong hands could be high.

FORBES: How much should you trust your mobile phone?