How to check if someone has taken a loan using your PAN card

Speaking on how cyber criminals carry out this PAN card loan fraud; New Delhi-based cybercrime expert Amit Dubey said, “Dhani App and few other fintech platforms are disbursing small ticket loans only on submission of PAN card and mobile number. Since one’s mobile number is linked to one’s bank account , so the money gets transferred to some other bank account though the PAN card belongs to another person. Hence, in the name of quick disbursement of small sized loans, fintech platforms have left a loophole which is being used by online fraudsters. “

On how to avoid such PAN card fraud by such cyber criminals, Amit Dubey said, “First and foremost, one should not share their PAN and Aadhaar number with unknown persons or even any known person. As these documents are highly confidential. Also this, one should be cautious while sharing these documents in places where it can be misused. Hence, the purpose of sharing photo copy of one’s PAN card and Aadhar card and it has to be written in such a way that some part of it comes on the sketch. This will negate any possibility of misuse of such frauds.”

Further, he advised the PAN card holders to keep checking their loan details and their CIBIL score from time to time. These days one can check CIBIL score and loan details online by logging into the services of any of the credit bureaus like CIBIL, Equifax, Experian or CRIF High Mark to get the details of loans taken in your name. .

One can also check their loan details by logging into fintech firms like Paytm and PolicyBazaar app. These fintech apps provide users with instant CIBIL score as well as loan information.