Is Someone Else Taking Loans on Your PAN Card? Here’s How to Detect Fraud Instantly

G GOWTHAM
Your PAN card is linked to financial transactions in India, including loans, credit cards, and bank accounts. Fraudsters can misuse it to take loans, leading to financial liability and credit score damage.

1️⃣ Watch Out for Early Warning Signs

Be alert for:

  • Unexpected calls or emails about loan approvals you didn’t apply for.
  • Sudden drops in your CIBIL or credit score.
  • Loan statements or EMI reminders for loans you never took.
  • Notices from banks or financial institutions about defaults or overdue payments.
2️⃣ Check Your Credit Report Immediately

Step 1: Visit CIBIL, Experian, Equifax, or CRIF High Mark (any authorized credit bureau).
Step 2: Request your free annual credit report.
Step 3: Look for:

  • Loans or credit cards applied without your knowledge
  • EMIs or overdue payments not linked to your transactions
  • Suspicious credit inquiries
💡 Tip: You are entitled to one free credit report per bureau every 12 months.

3️⃣ Use the Central KYC (CKYC) & Loan Alerts

  • Check your CKYC record for unauthorized accounts.
  • Enable SMS/email alerts from banks to detect loan approvals instantly.
4️⃣ Report the Fraud

  • Step 1: Immediately inform the bank or NBFC where the loan is taken.
  • Step 2: File a police complaint and keep a copy for reference.
  • Step 3: Report to the Fraud Department of the lender.
  • Step 4: Inform CIBIL and other credit bureaus to flag the account as fraudulent.
5️⃣ Protect Your PAN and Financial Identity

  • Do not share PAN, Aadhaar, or banking details with unknown sources.
  • Register with account aggregator apps or bank alerts to monitor all financial transactions.
  • Consider filing for a No Objection Certificate (NOC) with banks if fraud is detected.
6️⃣ Preventive Tips

  • Keep your PAN card and documents safe.
  • Regularly monitor your credit score online.
  • Link PAN to your Aadhaar for secure authentication.
  • Use two-factor authentication for online banking and loan applications.
💡 Bottom Line

Early detection is key. Monitoring your credit report monthly, enabling alerts, and reporting suspicious activity immediately can save you from serious financial damage.

 

Disclaimer:

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.

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