https://www.bbc.co.uk/news/articles/cy8y70pvz92o
First thing I thought on reading this story was "what idiot leaves it possible to get into your internet banking without some sort of protection on your phone".
It's perfectly safe to still carry your phone as long as you are sensible and have all the relevant protection in place.
I also have my phone on a lanyard when travelling in London, or any densely populated place. If I am walking anywhere and need to look at a map, I either step to the side, or stick an airpod in (never both) and listed to the instructions being given. The phone is then put in an inside pocket to reduce the risk of being pickpocketed.
My phone, when locked, cannot be unlocked without either Face ID or a pin code. When locked, you cannot even access the control panel to put it on airplane mode, or turn it off, so I can track it on Find My, unless the battery dies or they put it in a Faraday cage.
All my banking apps require face ID and/or comprehensive second factor authentication.
Just as you'd never go to work and leave your front door wide open for people to go in and help themselves, make sure your phone is as locked down as is possible and the worst that could/should happen if it's stolen is that you have to buy a new one (or in my case resurrect an old one).