Peru's Interbank launches 'Modo Calle' to curb cell phone theft fraud

Interbank, a Peruvian bank, introduced 'Modo Calle' (Street Mode), a mobile app feature that lets users limit account access and hide sensitive information when away from home, aiming to reduce financial losses from cell phone theft. The feature is a proactive security measure but its effectiveness against sophisticated theft and fraud remains unproven. This reflects a growing trend in Latin American banking to address mobile-device crime.