City of London officers also issued bike riders with fixed penalty notices for near misses with pedestrians and vehicles during rush hour.
Seventy-seven rogue cyclists will now either have to pay a £50 fine or enrol on a safety course.
During the five-day operation against anti-social behaviour at Bank Junction, a further 94 traffic offence warnings were given to other road users and nine illegal e-bikes or e-scooters seized for destruction.
Members of the public received 150 crime prevention messages to deter phone snatching and cycle theft between September 11 and 15.
Sergeant Stuart Ford, Cycle Response Unit, said: “This operation was a significant success in reducing anti-social behaviour by road users at a big interchange in the City of London.
“The majority of cyclists are safe and obey the Highway Code. However, we dealt with a number who went through red lights, putting themselves and pedestrians at risk.
“We received a number of positive comments from people who were grateful for our intervention and advice on preventing phone snatching and cycle theft.”
The one-way junction at Queen Victoria Street, between the Bank of England and Masion House, is only accessible to buses and cyclists during peak office hours.
The police operation focused on making the area safer for an increased number of office workers crossing busy roads and navigating road works.
Sgt Ford’s colleagues from the Road Policing Unit checked 115 cars, arrested four people for traffic offences, seized nine vehicles due to having no insurance and fined five drivers using mobile phones at the wheel.
James Thomson, chair of the City of London Police Authority Board, added: “Public safety is our number one priority – whether that’s on our roads, on our pavements, or while using public transport.
“Working with the City of London Police we continue to ensure that the City remains the safest business district in the world – for all that live, work or visit the Square Mile.”