I just attended an FBI training day just before Christmas, Should have posted this then but been busy, this particular scam is occurring on the east coast, but as you can see it could happen anywhere.
goes something like this:
two miscreants enter the mall find a "Target" to pickpocket. One of them actually does the pickpocket, the other keeps tabs on the "Target". The person with the wallet then goes to a private location and carefully empties the wallet of the Photo ID and all the credit cards, noting exactly how they came out of the wallet. Lays them on a surface and then using their cell phone takes pictures of both sides. then places the items back in the wallet exactly as they came out. It is even better if there is money in the wallet, because the miscreants will NOT take the money. Then the Pickpocket will call the other person to find out where the "Target" is they will then approach the "Target" with the Wallet saying "You left this at store XXX", "You dropped it"... the goal is to get the target to think that a "Good Seminarian" returned their lost item. The target Looks in the Wallet and it looks like everything is in place. The "target" tanks them and goes on their way. Meanwhile the miscreants have emailed the captured photos to other parties that immediately start using the captured information, even before the "Target" gets back to their car... IF this happens you need to reports all of the CC's in the wallet as compromised, immediately!
Two things here, you should do what the miscreants did here, empty your wallet and take a picture of the contents both sides. so you have a record of what is in your wallet. so if you loose it or something else you have a record. If you use your phone for this ALWAYS HAVE A PIN on your phone, and don't auto upload, if you have something like photobucket loaded!
Lets everyone be safe out there!