Is Someone Else Taking a Loan Using Your PAN Card? Check in 2 Minutes

PAN Card Loan Fraud:

Your PAN card is more than just an identification document it’s the key to your financial life. Whether you’re opening a bank account, applying for a loan, or filing your taxes, your PAN card is essential. But have you ever wondered what could happen if someone uses your PAN card without your knowledge?

PAN Card Loan Fraud:

It’s not uncommon for fraudsters to misuse your PAN card to take loans in your name. Such incidents can happen without you even realizing it. Imagine one day receiving a recovery notice from a bank, only to find out that a loan was taken using your PAN card. This is a serious issue that can harm your credit score and cause long-term financial trouble.

In today’s digital age, these types of frauds are on the rise. So, it’s crucial to regularly check if your PAN card is being misused. You can do this in just 2 minutes using the following steps.

How Does This Fraud Happen?

Even though banks have verification processes in place before granting loans, fraudsters are finding ways to slip through the cracks. Many target fintech apps or small loan companies where the verification process might be more lenient.

What’s the Risk?

If a loan is taken in your name, you are legally responsible for repaying it. This can negatively affect your CIBIL score. Failing to repay the loan will bring down your score significantly, which can make it difficult for you to secure loans or credit in the future.

The Key to Preventing Fraud: Your CIBIL Report

The easiest way to check if someone has taken a loan using your PAN card is by checking your CIBIL report. Your CIBIL report contains all the details about your loans and credit cards. You can access your report through major credit bureaus like CIBIL, Experian, Equifax, or CRIF Highmark. Many apps like Paytm and BankBazaar also offer this service.

How to Check Your CIBIL Report

1. Visit the official CIBIL website ([www.cibil.com](http://www.cibil.com)).

2. On the homepage, click on the “Get Your CIBIL Score” button.

3. If you don’t have an account, create one by providing your email, mobile number, name, and date of birth.

4. Choose ‘PAN Card Number’ as your ID proof, and enter your PAN details.

5. Verify your identity by answering some questions related to your credit history.

6. Once verified, your CIBIL dashboard will open, where you can view your score and all the loans under your name.

What to Do if You Find a Loan You Didn’t Take?

If you find an unknown loan or credit card on your CIBIL report, don’t panic. Take the following steps immediately:

1. Contact the Credit Bureau: Raise a dispute with the credit bureau where you got your report from.

2. Contact the Bank/Company: Notify the bank or fintech company that issued the loan.

3. File a Police Complaint: Report the incident to your local police station or file an online complaint through the National Cyber Crime Reporting Portal ([www.cybercrime.gov.in](http://www.cybercrime.gov.in)).

By staying vigilant and checking your CIBIL report regularly, you can prevent such frauds and protect your financial reputation.

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