Fraudulent activities have been increasing steadily due to the rapid advancement of digital technologies. Online scams, identity theft, and cybercrimes are prevalent. Fraudsters steal personal information, such as address, name, Aadhaar, and PAN, to apply for loans or make purchases. In this article, we talk about how to check if someone has taken a loan in your name using a PAN card.
How to check if a fraudster has used your PAN
The first way to check if someone has used your PAN card to take a loan is to view your credit report. You can access the websites of CIBIL, Experian, Equifax, and CRIF High Mark to check the information, as these sites maintain the records of all loans. They also provide a free credit report on request.
You should check information like incorrect account details, recent loan inquiries not authorised by them, loans or credit not applied for, and unfamiliar financial institutions in the report.
What to do if you find a fraudulent loan
You should immediately take action if you find something fraudulent using your credentials. First of all, inform the lender listed in your report and let them know the loan was not taken out by you. Then you should visit the website of the credit bureau that flagged the loan and file a formal dispute.
You can also file a complaint with your local police or cybercrime unit to officially report the misuse of your PAN.
What is PAN?
PAN (Permanent Account Number) is an important document issued by the Income Tax Department to all taxpayers in India. It is a 10-digit alphanumeric code. It is a mandatory document used for banking, tax filing, and business registration.
PAN card contains information like the name of the cardholder, date of birth, name of the father of cardholder, signature, PAN, and a photograph of the cardholder.
Types of PAN
- Individual, including minors and students
- Hindu Undivided Family (HUF)
- Company
- Partnership Firms
- Limited Liability Partnership (LLP)
- Trusts
- Society
- Association Of Person (AOP)
- Body Of Individuals (BOI)
- Foreigners