On the e63 cell phone, go to Encryption and choose to enable Memory Card encryption with a key file. The key file can be saved on to the PC to enable restore, if you format the phone or lose the file. Note the password that goes with it needs to be remembered by you.
After performing procedure above, I had a problem of accessing any installation files, camera on the phone. Since it is unreliable at present, I am unable to actually use it. Also, the installation files (programs folder) was visible only after a format of the memory card. I lost the default software that came on that card. Like GlobalBloxx. Wait !!! Do I have a dump of the Nokia memory card somewhere on my PC? (Never say die, you know)!