As fraud tactics become more sophisticated, the UK has recorded a staggering 425% increase in phone theft since 2021. Criminals are increasingly targeting unlocked phones to initiate bank transfers on the spot—sometimes even forcing victims to complete selfie verification before escaping, a method now commonly known as “transfer mugging.”
With the festive period bringing busy streets, late-night outings, and higher risk, Revolut is launching Street Mode just in time. Once switched on, customers can set their own “Trusted Locations.” Any transfer above a chosen limit made outside these areas triggers extra authentication and a mandatory one-hour delay. This built-in buffer helps block fraudulent transactions and gives victims time to freeze their accounts if they’re under pressure or their phone is stolen.
Rami Kalai, Product Owner at Revolut, said:
“As new threats emerge, it’s crucial we stay a step ahead. Transfer mugging is increasing across cities worldwide. Street Mode acts like a location-aware shield, giving customers stronger, smarter protection when they’re out and about. It puts control back in their hands, with extra security exactly when they need it.”
How to activate Street Mode:
- Go to the Security section of your Revolut profile and enable Wealth Protection
- Set your preferred transfer limit
- Switch on Street Mode
- Add or remove Trusted Locations any time (e.g., your home, office, or hotel when travelling)
How it works:
- Inside Trusted Locations: Transfers above your limit require standard phone identity confirmation and go through instantly.
- Outside Trusted Locations: Transfers require the initial identity check, plus a 1-hour delay and an additional selfie check before processing.
Street Mode builds on Revolut’s Wealth Protection feature, introduced last year to add biometric checks that shield users from pickpocketing and phone theft. Over one million customers across Europe are already using these advanced safety tools designed to safeguard savings and everyday spending.
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