PAN Card is a common document that can identify an individual by using the unique PAN Card number. Moreover, PAN is also associated with all financial and bank accounts of most individuals. PAN makes it easier for the credit bureaus to locate your details efficiently. When you use the PAN Card number for viewing your CIBIL score, it is not used for any other purpose other than locating your credit information and authenticating it by using associated details.
When your PAN card is illegally used, you may not even be aware of this for at least 6 months after the wrong transaction. You can check for such benami transactions by going through your Form 26AS, which is a consolidated statement of tax deducted, along with other details.
In a possible identity theft at a mass level, several Indians have been left high and dry on discovering unaccounted outstanding loans from IndiaBulls-owned fintech platform Dhani on their credit history records. Here can check someone has taken loan using your PAN card.
Lender Company Indiabulls has been in news these days due to eruption of controversies around its fintech platform Dhani Services. There have been series of cases in which, PAN card holders have come to know that loan has been disbursed to an unknown person on their PAN without asking for their consent. Such bad loans disbursed by Dhani App are not getting repaid by the fraudsters. So, victims CIBIL score is getting hit badly due to this PAN card loan fraud.
Speaking on how cyber criminals execute this PAN card loan fraud; New Delhi-based cybercrime expert Amit Dubey said, “Dhani App and some other fintech platform are disbursing small ticket loan on mere PAN card and mobile number submission. As one’s mobile number is attached to one’s bank account, the money transfer gets done to some other bank account though PAN card is of other person. So, in the name of quick disbursal of small size loans, fintech platforms have left a loophole which is being used by online fraudsters.”
On how to remain insulated from such PAN card fraud by such cyber criminals, Amit Dubey said, “First and foremost, one should not share one’s PAN and Aadhaar number to unknown persons or even any known person as these documents are highly confidential. Apart from this, one should remain vigilant while sharing these documents at places where it may be misused. So, one should write the purpose of sharing photo copy of one’s PAN card and Aadhaar card and it has to be written in such a way that some part of the line comes on the picture. This will negate any chances of misuse of such frauds.”
Apart from this, he advised PAN card holders to keep on checking one’s loan details from time to time and one’s CIBIL score. He said that these days CIBIL score and loan details can be checked online by logging in at the services of any credit bureau such as CIBIL, Equifax, Experian or CRIF High Mark to find out the details of the loans taken against your name.

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