More than 5 million phones are lost or stolen in the U.S. each year, but how many of those users follow the right protocol in the aftermath?

“It used to be the keys or the wallet, but now, losing your phone is the most dreaded feeling,” said Jon Wong, director of product marketing in Samsung’s B2B Mobile division, during an interview in New York last month.

In terms of immediate steps, from a corporate standpoint, Wong advises that a device owner informs their company and their IT team, who can help track and manage that device.

“And from a personal front, with a Samsung device you can use a service called Find My Mobile to help track that device,” Wong said.

To learn how Samsung’s Knox technology reduces the risk of compromised data, watch my full interview with Wong above.