PAN card fraud is on the rise, with cyber criminals taking out fake loans. Regularly check your credit report and if you see any suspicious loans, immediately file a complaint with the bank, CIBIL, and cybercrime authorities.
Pan Card Fraud: In this era of Digital India, while financial transactions have become easier, the risk of cyber fraud is also increasing rapidly. In particular, fraud related to PAN cards (Permanent Account Number) has become a serious concern today. Recently, in many cases, it has been observed that criminals use a person's PAN details to take out fake loans in their name, and the victim only finds out when their CIBIL score suddenly drops or they start receiving notices from the bank.
Such fraud not only causes financial loss but also affects the credit profile for a long time. In such a situation, it is important that you periodically check whether there are any unknown loans active on your PAN card.
Why is PAN Card a Target for Cyber Criminals?
The PAN card is a unique identification document that is used for tax filing, opening bank accounts, taking loans, issuing credit cards, and other financial activities. Its value is so high that if a cybercriminal gets this information, they can misuse it to take out fake loans. In most cases, this information is stolen through data leaks, phishing emails, or fake KYC calls.
How to Find Out if There is a Fake Loan Running on Your PAN?
The easiest way to find out is to check your credit report regularly. Several reliable fintech platforms and apps are available for this:
- Go to apps like Paytm, Paisabazaar, BankBazaar.
- Open the Credit Score / Loans / Credit Report section.
- Log in by entering your PAN number and mobile number there.
- After OTP verification, your entire credit report will be in front of you.
- See if there is a loan showing up in your name that you never took out.
If You Find a Fake Loan on Your PAN, Do These Things Immediately
1. Contact the concerned bank or NBFC: Explain that you did not take out this loan. Demand that they immediately block the loan and start a fraud investigation.
2. Report to CIBIL and other credit bureaus: Inform them in writing that this loan is fraudulent so that they can remove this entry from your credit report.
3. File a complaint at the cyber crime police station: Go to the cyber cell of the nearest police station. Or file an online complaint on the National Cyber Crime Reporting Portal (www.cybercrime.gov.in).
Measures to Avoid PAN Card Fraud
1. Do Not Share PAN Information
Never upload your PAN number on social media or unsecured websites.
2. Be Careful on KYC Calls
Do not give PAN details on suspicious calls coming in the name of the bank.
3. Check Credit Report Regularly
Be sure to check your CIBIL score and credit history every 2-3 months.
4. Store PAN Card in Digital Locker
Use physical copies less. Use a secure platform like DigiLocker.
Why is it Important to Prevent PAN Fraud?
- Credit score may drop – Wrong loan entries will spoil your CIBIL score.
- Difficulty in future loans – Banks will not trust your profile.
- Legal troubles – If action is not taken in time, a notice may also come from the bank.
