Thanks for the warning. I pass that way on occasion and will make sure bag is safely tucked under arm.

One thing I never realised until I had my bag snatched once before is that should you decide to indulge in a tug of war (assuming you think the thief doesn't have a knife/gun), make sure that you are the one with the body of the bag and s/he is the one with the handles. The handles are far more likely to break and leave the person tugging that end with nothing except a bruise on the backside. Screaming loudly is also a good option the moment you feel it being grabbed - these people don't want attention.