Cell Phones Plug Africa's Poor Into Mobile Banking

This is a very interesting article on how cell phones are being used for Mobile Banking in Africa. This is also a hot issue here in the US and there are several companies such as Visa International focusing on using the cell phone as a tool for making international remittances from the US.

Does anyone know how security is being handled? What happens if I lose my phone?

http://www.nytimes.com/reuters/technology/tech-africa-banking.html