Here is a wall street journal article about apple ID phone theft, how they lock you out, and then proceed to find your bank account passwords and transfer your money to their accounts. Key is to 1 NOT have any banking apps on your phone. . . 2) not have the two way authentication go to this phone. . 3) and to have a backup of the iCloud somewhere else not in the iCloud. . . basically, if you are locked out, you will never see anything from your phone ever again. . .
Tech Things With Joanna Stern - Apple’s iPhone Passcode Problem: How Thieves Can Take Over in Minutes
or try this link
Tech Things With Joanna Stern
might be behind a paywall, and if it is, its worth a free trial just to see and hear it. ..
or
google search for "Apple’s iPhone Passcode Problem: How Thieves Can Take Over in Minutes"
the internet will become useless over time for financial institutions