PAN Card Fraud Alert: How to check if your PAN is misused for loan purpose

PAN Card Fraud: In the recent past, there have been a series of instances in which PAN cardholders have become victims of fraud. After their PAN card was misused, they got to know that loan has been disbursed to an unknown person on their PAN without their permission. As a result, the cardholders’ CIBIL score is getting hit affected due to this PAN card loan fraud.

Recently, Bollywood actor Rajkummar Rao became a victim of financial fraud where his PAN card was misused for loan sanction.

‘#FraudAlert My pan card has been misused and a small loan of Rs.2500 has been taken on my name. Due to which my cibil score has been affected. @CIBIL_Official please rectify the same and do take precautionary steps against this,” Rao had said in a tweet.

To prevent such fraud cases, one should never share PAN and Aadhaar numbers to anyone as these documents are highly confidential. Moreover, one should write the purpose of sharing a photocopy of one’s PAN card and Aadhaar card, and it should be written in such a way that some part of the line comes on the picture. His must be done to negate any chance of misuse of PAN cards.

Aadhaar Update: How to verify Aadhaar card against fraudsters online (www.eduvast.com)

With increasing instances of PAN Card frauds, it is now extremely essential to be aware of whether your personal credentials are being wrongly used.

Using Dhani app, any person can apply for a personal loan by sharing their PAN and Aadhaar Card details. But, many are misusing this app to get loans illegally by forging PAN card details.

How to can check if PAN card has been misused:

• An individual can check whether PAN number has been misused by simply generating credit scores.
• Through CIBIL, Equifax, Experian or CRIF High Mark, one individual can detect whether any loan has been disbursed under his name.
• Moreover, the cardholder can visit fintech platforms such as Paytm or Bank Bazaar to check the financial reports.