Two teenagers are said to have held a man at knifepoint before stealing his phone and using online banking to drain money from his account.
The robbery reportedly happened at about 10pm on Saturday (February 1) in Beachborough Road, Folkestone.
It is alleged a man walking down the road was approached and threatened at knifepoint by two occupants of a white car which had stopped.
The pair, who are believed to know the victim, then stole his phone and transferred money out of his bank account account.
On Monday, officers arrested an 18-year-old man from Folkestone and a 17-year-old boy from Hythe in connection with the robbery.
They currently remain in custody.
Detectives are appealing for anyone with information to contact Kent Police on 01843 222289 quoting 46/18415/25.
You can also call Crimestoppers anonymously on 0800 555111 or complete their online form.
