In today’s digital-first financial world, a PAN card is no longer just an identity document—it is the backbone of your entire financial profile. Unfortunately, this also makes it a potential target for fraudsters who may try to take loans or credit in your name without permission. Here’s how you can protect yourself and take action from home.
Why You Should Monitor Your PAN
· Every financial transaction in India, such as loans, credit cards, and investments, is linked to your PAN card.
· Fraudsters can misuse PAN details to open accounts or borrow money illegally, creating financial liabilities in your name.
· Regular monitoring helps detect unauthorized activity early, minimizing potential damage.
How to Check for Loans or Credit Taken in Your Name
1. Use the Income Tax Department Portal
o Visit the official Income Tax e-Filing portal.
o Check your Form 26AS, which contains details of taxable transactions and financial activities linked to your PAN.
o Look for unrecognized loans or financial entries that you did not authorize.
2. Check with Banks and Financial Institutions
o Contact your bank or lender to verify if any loan or credit account exists under your PAN.
o Many banks also provide online dashboards for checking loan status linked to your PAN.
3. CIBIL or Credit Report Check
o Obtain your credit report from CIBIL or other credit bureaus.
o This report lists all loans, credit cards, and financial accounts associated with your PAN.
o Identify any unknown or suspicious accounts immediately.
How to Report Fraud
1. Contact the bank or Lender Immediately
o Inform them about the unauthorized loan and request freezing or blocking of the account.
2. File a Complaint with Cybercrime Authorities
o Report the incident via the National Cyber Crime Reporting Portal or local police.
3. Raise an Official Grievance with the RBI or Financial Institution
o Some banks have dedicated fraud resolution departments.
4. Update Your PAN Security
o Change linked email, mobile numbers, and passwords associated with financial accounts.
o Be cautious with sharing PAN details online or with unknown parties.
Bottom Line
Your PAN card is central to your financial identity, so regularly monitoring it is crucial. By checking Form 26AS, reviewing credit reports, and reporting suspicious activity promptly, you can protect yourself from financial fraud without leaving your home.
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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