How to Check PAN Card Fraud and Report Misuse

You run the risk of falling prey to bank loan scams or identity theft if someone gets access to your PAN card or Aadhaar card. You can determine if you are the next victim by continuing to read the article.

How does PAN Card Fraud Work?

One of the most important forms of identification for Indian citizens is their PAN (Permanent Account Number) card. According to the new government regulations, people must link their PAN with their Aadhaar numbers and bank accounts. While this makes things more convenient for you, a drawback is that your PAN could end up being used improperly to obtain loans.

PAN and Aadhaar cards are the primary sources of bank fraud in India, according to a 2018 IndiaSpend survey. PAN card fraud has increased, especially in the wake of the government regulation requiring the linking of Aadhaar numbers with bank accounts and PAN cards. 

For instance, in order to purchase train tickets, you must enter your PAN. In order to make it simpler for hackers to locate your PAN, later it’s displayed on the prepared chart next to your name.

The PAN linking to your bank account must start to process by a third party. If you lack strength, information may leak. Bookings for travel as well as visa applications are frequent.

The most frequent outcomes of PAN card fraud can be applications, bank accounts, or other loans, as is customary. Some financial services, besides banks, only offer loans with PAN verification. As a result, if someone steals or hacks into your PAN, you might find loans against your name in your CIBIL at an unexpected time. Both your financial situation and your CIBIL score are negatively impacted by it.

How can you determine whether you are a victim?

Examining your credit score is the most effective way to determine if someone is abusing your PAN card. 

All of the loans you have taken out using your PAN are put on this statement. You will be able to spot fraud if you discover any listed loans that you did not take. Additionally, you can benefit from the subsequent actions. 

• On the internet, a number of bureaus are accessible, including TransUnion CIBIL, Equifax, Experian, Paytm, Bank Bazaar, and CRIF High Mark. You are free to select whichever option suits your needs.
• Search for the “Check credit score” option on the website after opening it. The majority of the time, it is free, though some websites may require you to select a plan in order to obtain a detailed credit score.
• Enter accurate information for your name, email address, registered mobile number, and PAN. Also, enter your date of birth. In some cases, it’s possible that they send an OTP to confirm your mobile number.
• Access to your credit score will be possible. There will also be any loans in your name that are still open at the time.

PAN card abuse scenarios

Permanent Account Number (PAN) requirements are becoming more widespread today, which raises the possibility of PAN card fraud or scams. Here are some of the various methods hackers can use to target your PAN information:

• Using a credit card or loan application

Your OAN information gets into utilization by criminals to apply for loans or credit cards, which they would then use to finance illegal activities. But the responsibility for it will fall on your shoulders. You will be accountable for paying back the debt and handling any legal repercussions that may result.

• Obtain jewelry illicitly

They may require your PAN if you want to buy expensive jewelry because India has a threshold above which you must provide your PAN information. The IT department may call you in to give a logical justification for such incidents if there is any misuse of PAN cards in such situations.

• using a car and hotel room rental

You must present identification documentation when booking a hotel room in India. In order to conceal their identities, scammers typically enter personal information from stolen PAN cards. In the event that any illegal activity takes place in these hotel rooms, the person’s registered ID—which is frequently faked or forged—is requested by the authorities.

Renting a car in your name and using it for illegal purposes like trafficking and smuggling is another illustration of how a PAN card has been misused.

People frequently make the error of downplaying the importance of PAN cards. It is a significant document that is used in virtually all transactions. You must therefore understand how to protect personal information.

How can you protect yourself from fraudulent use of PAN cards?

In order to prevent future PAN card scams, you can adhere to the conditions listed below.

• Don’t take your PAN with you wherever you go. alternatively, confirm the website’s legitimacy. Use less vulnerable forms of identification like a driver’s license, voter ID, or an Aadhaar card instead.
• Make an effort to only give genuine people or businesses your PAN photocopies. Add your signature and the date to these copies. Keep track of the locations where you are submitting these, and finally.
• Whenever possible, avoid providing your full name and birthdate on online forms. You can use these to follow your PAN.
• The government no longer requires you to link your Aadhaar card to your bank accounts, so you can remove the link.
• periodically check the websites that house your credit score.

As a result, PAN card fraudsters are evidently familiar with an upsurge in bank fraud and criminal hacking. As a result, it is crucial to keep your PAN safe from these threats, or you risk being saddled with loans that hackers have taken using your information. By taking the precautions outlined in this article, you can prevent such problems.

Frequently Asked Questions