Truth is, your iPhone already has a ton of private data on it: contacts, calendar, banking apps, credit card apps, personal text messages (just ask Tiger Woods), e-mails, chat sessions, pictures, videos, memos, journals, passwords, etc.

On a related note, a couple of years ago it came to light that if you're arrested for, say, a traffic violation, the police have the right to search you. If you have an iPhone in your pocket, the everything stored on it, too.

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in CIO's Mobile security Drilldown.