An emerging threat for iPhones is not just locking users out permanently, but it's draining their bank accounts as well.

The Wall Street Journal reports thieves are taking advantage of recovery keys to lock users out--a feature originally created to boost user security.

In order for this cybercrime to be successful, thieves have to know your passcode and gain physical access to your phone.

Until Apple rolls out additional threat protections, users can do a few things themselves to avoid getting locked out:

• Guard your screen in public when entering your passcode.
• Use facial recognition when possible.
• Make sure your phone is backed up to the cloud.
  • This will ensure your data is saved elsewhere if your phone becomes compromised.
• The screen time setting, which requires a second passcode, may be employed as a way to add a second layer of protection.