I don't know how well this works, but this is how I was told to deal with robbery.
If you have anything substantial to lose, carry two wallets, one in an unconventional place. Put about $100 (with a few ones, so it seems like a real wallet) and some expired or fake credit cards in one as a dummy wallet.
Most robbers just want to get some quick cash, usually for drugs. So they get what they want and slink away, and you only lose $100. If you're traveling in dangerous parts of the world, the police are usually corrupt and you expect such random losses in the form of shakedowns/bribes.
In my family it's common to carry a wallet, and then a hanging pouch with your valuables (serious money and stuff you don't need everyday, though I don't keep my passport there) when traveling.
So even if you're robbed, you have something left (not as good as your advice, but it sounds like it works).
If you have anything substantial to lose, carry two wallets, one in an unconventional place. Put about $100 (with a few ones, so it seems like a real wallet) and some expired or fake credit cards in one as a dummy wallet.
Most robbers just want to get some quick cash, usually for drugs. So they get what they want and slink away, and you only lose $100. If you're traveling in dangerous parts of the world, the police are usually corrupt and you expect such random losses in the form of shakedowns/bribes.