Lookout and all these Andoid Security “companeis” are nothing but similar to Nigerian scamsters. They trying to scare people about Android App “security” to sell their useless ware. As a security researchers, I can say that none of these “security apps” are good use of your phone’s resources.

Android security was an issue in early phases (pre Android 4.0) because google didn’t integrate security checking in the app store. But now distributing an unsecure application is next to impossible for scamsters without being caught, and beyond that Google can remove the bad app any time remotely. Unless you work for Defense or Secret Agency — an average consumer is fine without giving money to all these “scare” mongers like Lookout security.

In any case, you should not carry your valuable information on phone since phone can be lost any time., can fall down in the river and road and in the train.