PAN Card Fraud Alert: Has a Loan Been Taken Using Your PAN Without Your Knowledge? Check Here Before It’s Too Late

Hyderabad: With the increasing digitization of financial services, misuse of PAN cards has become a growing concern across the country. While PAN has become mandatory for linking with bank accounts, credit cards, and financial transactions, many people—especially in rural areas—remain unaware of its importance. Fraudsters are exploiting this lack of awareness by collecting PAN details at crossroads or through fake agents and using them to take loans worth crores in the names of unsuspecting individuals.

Authorities warn that if someone takes a loan using your PAN card, it directly affects your credit score and could cause major financial hurdles in the future. Hence, every PAN holder must regularly check whether fraudulent loans have been registered in their name.

How to check:
Individuals can download their credit report from credit bureaus such as CIBIL, Equifax, or Experian—either free of charge or by payment. The report provides details of all loans, credit card usage, hard inquiries, and outstanding dues. If a loan appears that you never applied for, it’s a red flag that your PAN has been misused.

What to do if your PAN is misused:

• Lodge a written complaint with the concerned bank and obtain acknowledgment.
• File an FIR at your nearest police station.
• Approach the RBI Ombudsman by filing an online or email complaint.

Preventive measures:
Experts advise citizens to avoid sharing PAN or Aadhaar details casually, especially on WhatsApp or unauthorized websites. Before submitting documents at retail stores, verify the company’s authenticity. Regularly monitor credit reports, enable SMS/email alerts, and set strong two-factor authentication on financial apps.

Financial experts stress that proactive vigilance is the only way to prevent long-term damage caused by identity theft.