iFoneTec Ltd released version 2.0 Cylay, a tool that helps you secure your phone and its data. Touted by the company’s web page as the “the first security application for the iPhone”, the company says the application will:

  • Report current user phone number when iPhone is lost;
  • Backup iPhone data to Cylay Server or Google Server;
  • Delete all of iPhone information when iPhone is lost;
  • Find lost iPhone location;
  • Report Call history and SMS log of lost iPhone;
  • Remotely control lost iPhone: forward SMS, and restore data to iPhone;
If you go to this web site, you can create an account and set up your iPhone profile. It looks like there is a trial membership for free and you pay 19.99 a year to get advanced features. It is a bit unclear what these advanced features are but the web site says the membership fee includes:
No setup Server and Client fee.
Free to update Cylay during in 1 year.
unlimited access Cylay server , backup, restore iPhone information to Cylay server and iPhone
unlimited the notices of warning unlimited to access Calllog,SMSlog, Contacts,Notes.
Again unclear from the website, it looks like from the website you can register your phone number and iPhone serial number and report your phone through their web page when it gets lost. You can also identify the location of the iPhone.  It looks like you can also back it up remotely and send an SMS message to it to erase your iPhone to prevent your data from falling into the wrong hands.
Cylay is only available for jailbroken phones and is available at http://app.ifonetec.com/cydia.