I have supervised many criminals who have committed distraction thefts - doorstep crimes. One young woman would start chatting to elderly ladies coming out of a shop or on the bus and then follow them and watch them go to their front doors, and because they had been chatting a few minutes previously, they wouldn't be as cautious as they would if the criminal had knocked on the door. Another woman used to visit the elderly persons' home with her daughter of certain residents (who didn't challenge this), saying they were friends to offer to read or keep elderly people company, whilst the daughter was busy pilfering. They all got hefty prison sentences.
I don't think this despicable sort of crime will die out, because as people become more aware about protecting themselves at the front door, criminals will find other ways to deceive them, and when they are desperate they resort to street robbery. The main thing is not to have precious belongings on your person or in your bag, only have small amounts of cash, and if someone tried to steal your bag or purse you won't be as worried about letting go of it if a robbery is attempted, otherwise it is the older person who will come off worse.
My parents used to keep large amounts of cash hidden in their house - they worried about being taxed on unearned income, but their understanding of the tax levels was way out and they would have earned interest if they'd banked it. When they died, we had to check every stick of furniture. Sadly, a lot of elderly people will be doing the same with all this worry about banks we're having at the moment.
Also, many elderly people want to give cash to anyone who offers to get them some shopping and will keep it handy in the house, rather than rely on the person who is shopping paying for it themselves and taking a cheque or online banking transfer. The more computer-literate the elderly become, the safer they will be from anyone trying to steal their cash, but there's still the issue of them learning to be security-savvy.