The first iOS 17.3 beta rolling out to developers today includes a new “Stolen Device Protection” feature that is designed to add an additional layer of security in the event someone has stolen your iPhone and also obtained the device’s passcode.
When the feature is turned on, iPhone users are required to authenticate with Face ID or Touch ID for additional actions, including viewing passwords or passkeys stored in iCloud Keychain, applying for a new Apple Card, turning off Lost Mode, erasing all content and settings, using payment methods saved in Safari, and more.
The one hour delay on things like changing iCloud password will also make things more interesting if you are mugged and they demand you enter the passcode, disable icloud.
Yup, should stop those muggings.
Fortunately I don’t live where that kind of stuff happens so not really a big benefit.