A second threat to the security of Google Wallet has emerged in the space of one week. At risk are users of Android handsets whose handsets are lost or stolen without a screen lock having been set.  According to The Smartphone Champ, the Google Wallet app on the lost or stolen handset can be accessed via the application setting menu. If then the existing data for the app is cleared, the app will reset itself and ask for a new PIN. Once the thief has logged back in, the app will automatically transfer any balance from the real user’s prepaid card to the reset app.  This happens because Google Wallet is tied to the device itself and not to the individual Google account. Unlike last week’s security threat to the Google service, this new threat does not require a smartphone to have been rooted so making this threat potentially more serious.