What to do after your phone gets stolen?

So i was thinking of the things to do to protect myself and my data after my phone were to be stolen, i know most probably the thief will just reset it to sell it in a day or two and be gone, but i was concerned about the fact that if the thief can pass the passcode on it how much damage will he be able to do. The main concern would be identity theft and banking info.

So …

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