Four billion people worldwide have mobile phones - twice as many as have credit cards - and 80% of us carry information on our handsets that could be used by criminals to commit fraud. 16% of us already keep our bank details on our phones.

The challenge to the UK's design and technology communities is to design a solution to improve mobile phone security - both now and in the near future when credit on our phones will replace the cash in our wallets.

We want designers and technologists to work together to design solutions across three areas:
- Making mobile phone handsets harder or less desirable to steal
- Making the data stored on mobile phones harder or less desirable to steal
- Making future m-commerce transactions secure and fraud proof.

The Mobile Phone Security Challenge is offering a total of £400,000 to four winning teams of designers and technology specialists to develop innovative, marketable solutions. The Challenge is part of Design out Crime, an initiative from the Home Office Design & Technology Alliance Against Crime and the Design Council. This Challenge is part of a collaboration between the Technology Strategy Board, the Design Council and the Home Office.