Just as Apple can remove a rogue app on everyone's iPhone, I think Apple should allow iPhone owners the ability to remotely "kill" their data should it be lost or stolen. iTunes can have an option called "Lost/Stolen iPhone" where you can choose to have some or all data automatically wiped from your iPhone the next time it is turned on. It can also allow you to display an "If Found..." message on the phone instead of the Home screen.
Not sure how feasible this would be technically, but, it would sure limit the amount of damage someone can do with a lost or stolen iPhone.
Not sure how feasible this would be technically, but, it would sure limit the amount of damage someone can do with a lost or stolen iPhone.