Revolut has introduced a new security feature called "Street Mode" to enhance user protection against an anticipated increase in phone-snatching and "transfer mugging" incidents during the festive season.

This feature, available to UK customers, allows users to set "trusted locations," such as their homes, while imposing a one-hour delay and additional ID checks for transactions initiated outside these safe zones.

The rise in phone-snatching incidents in the UK, which have surged by 425% since 2021, underpins this initiative.

Source: finextra.com