I don't know the pick-pocketing system at all so I can't offer any constructive input on that. But, what about implementing anti-theft features on phones and wallets?
Phones - obviously this would only apply to the newer models. But, have an anti-theft feature that allows the owner to set up a code when phone is purchased or 'legally' changes hands so that if the phone is stolen, the owner can contact a Progia dealer and enter the code to effectively lock the phone - rendering it unusable. The only way for the phone to be usable now would be either the code inputted to unlock it or, for the less legal method, a hacker to hack the phone.
Wallets - wallet chains that can secure wallets to pant pockets. Have it be something that can be added to the nicer, leather wallets or a new product that has the chain and wallet attached. It wouldn't stop pick-pocketing, but it might cause a higher skill level to steal it?
Bras as pockets - Men, don't laugh - we really DO this shit. Since the wallet chain would require pants, have it be where a woman, if wearing a bra, can have the chyen in her bra/bra strap, which would cause a higher skill level to steal it?
Just a few ideas!