Section: INFORMATION SECURITY PROGRAM DEVELOPMENT

The best step to address the situation of losing a smartphone that contains sensitive information is to remotely wipe the device, which means erasing all the data on the device and restoring it to factory settings. Remotely wiping the device can prevent unauthorized access to the sensitive information and protect the organization from data breaches or leaks. Remotely wiping the device can be done through services such as Find My Device for Android or Find My iPhone for iOS, or through mobile device management (MDM) solutions. The other options, such as disabling the user's access, terminating the device connectivity, or escalating to the user's management, may not be effective or timely enough to secure the sensitive information on the device. Reference:
https://www.security.org/resources/protect-data-lost-device/
https://support.google.com/android/answer/6160491?hl=en
https://www.pcmag.com/how-to/locate-lock-erase-how-to-find-lost-android-phone

Establishing the chain of custody is one of the most important steps in conducting forensic investigations since it preserves the evidence in a manner that is admissible in court. The independence of the investigator may be important, but is not the most important aspect. Timely intervention is important for containing incidents, but not as important for forensic investigation. Identifying the perpetrator is important, but maintaining the chain of custody is more important in order to have the perpetrator convicted in court.

Since the operating system (OS) patch will adversely impact a critical application, a mitigating control should be identified that will provide an equivalent level of security . Since the application is critical, the patch should not be applied without regard for the application; business requirements must be considered. Altering the OS patch to allow the application to run in a privileged state may create new security weaknesses. Finally, running a production application on a test platform is not an acceptable alternative since it will mean running a critical production application on a platform not subject to the same level of security controls.