There's a huge security problem in the latest iPhone 2.0.2: if you have your Phone password protected, using a very simple trick gives anyone full access to your cellphone private information in Mail, SMS, Contacts, and even Safari. The two-step trick is even simpler to the one used in the past to gain access to the phone to install unlocking cards or jailbreak.
Source
http://gizmodo.com/5042332/huge-ipho...mation-at-risk