Everything to know about PAN Card fraud
A Permanent Account Number, or PAN, as we all know, is an important Government document necessary to open bank accounts, file taxes, and more. However, the ten-digit alphanumeric identification number has been wrongfully used to plan a fraud. In the past, your PAN number was available only to employers. With new government rules that mandate PAN cards to be linked with Aadhar and bank accounts, it has become easy for fraudsters to use the PAN card number to commit fraud. As several websites need PAN card information, it has become easy for scammers to get the number and commit crimes.
PAN card fraud is when scammers use the number of an individual to take out a loan, rent a hotel room, or purchase jewellery, thereby affecting the individual's credit score. As most individuals do not check their credit score unless there is a need for a loan, these frauds can go unnoticed for long periods.
Examples of PAN Card fraud
Everyone irrespective of their social status can be subject to PAN card fraud. A famous Bollywood actor was a victim of PAN card fraud when his ID was used to take out a loan of INR 2,500. He tagged CIBIL on a social media platform to notify them of the scam, which later went viral. While this is one incident, there have been several others who were affected by PAN card fraud.
In August 2022, a woman from Mumbai was duped of INR 1.24 lakhs when she received a fraudulent link on her mobile phone asking to update her PAN card. When she clicked on the link, fraudsters downloaded a screen-sharing app to gain remote access to her phone and confidential information.
How to check PAN Card fraud
Unlike other financial frauds, PAN card fraud is not immediately known. For instance, in the case of UPI fraud, money is deducted from the bank account. With the help of a bank alert, customers can know they have fallen victim to an online scam. In the case of PAN card fraud, it affects the credit score. If someone took a loan with your PAN card, that affects your overall credit score. Consequently, you will be subject to a higher interest rate when you approach a bank to get a loan. The damage is already done when you unearth the reason for poor credit score.
Here are two simple options to check if your PAN number is used to commit fraud.
Option 1 - Checking Credit Score
Various bureaus like CIBIL, Experian, Equifax, or CRIF High Mark can be used to check your credit score. These websites can be used to check credit scores at any time, free of cost. However, if you want a detailed score and breakdown of all the details, you can subscribe to their premium membership. Create an account with your basic information to get your current credit score and to check if anything suspicious is happening.
Option 2 - Form 26A
Form 26A is an annual tax statement issued by the income tax department. It contains all the information about tax deducted at source (TDS), taxes you paid, refunds received, and other tax-related information. Since this is based on your PAN, it also contains information about high-value financial transactions, including corporate bonds or mutual funds purchases. With this form, you can also verify if the PAN number has been used by anyone else. The form can be downloaded from the TRACES website or via the net banking service of your bank.
How to report PAN Card fraud
Using TIN NSDL
You can use NSDL website to file your complaint. Here is how you do it.
- Step 1: Visit the official portal of TIN NSDL and select 'Customer Care' from the menu options
- Step 2: Click on "Complaints/Queries" from the drop-down list. It will open a complaint form.
- Step 3: Fill out this complaint form with all the relevant details and click "Submit."
Ways to prevent PAN Card fraud
Here are a few simple ways to be vigilant and protect yourself from PAN card fraud.
- Use your PAN card only where it is mandatory. Instead, use driver's licenses or voter ID.
- To make yourself less prone to fraud, do not fill in personal details such as birthdate or full name on unknown online portals, as they can be leveraged to track the PAN card number.
- If you must take photocopies of your PAN card, ensure no extra copies are taken or left behind at the centre. Also, it is important to sign and date all copies to ensure it is not misused.
- Check your financial history for the year with Form 26A. This form holds all the transactions performed using your PAN number. If there are any discrepancies, they can be easily verified.
- Check your Credit score using the CIBIL website from time to time to ensure no credit card or loans that are open under your name that you are not aware of.
- Delete PAN card details from your phone.
While digital India continues to rise, scammers find new ways to commit crimes. PAN card frauds are one of the variants of their schemes that need close monitoring. Like any other fraud, being vigilant and informed can benefit to a large extent.
If you have been a victim, you can register a complaint immediately by dialing 1930 or visit the National Cybercrime Reporting Portal.
Disclaimer: Articles published on the website are merely indicative and suggestive in nature and do not amount to solicitation. The contents do not guarantee the desired returns and/or results. Reader is advised to exercise discretion and consult independent advisors for achieving desired result. Visitors to this blog/ website w.r.t products & services offered by RBL Bank Limited herein, shall ensure that the comments / feedback posted shall be restricted to the contents published herein and shall not contain such language that may be un-parliamentary or against any religion, caste, section of society, political view etc. While our endeavor is to publish the comments that are submitted, however, all comments/feedback shall be subject to internal review by RBL Bank Limited. We do not guarantee that the comments that are submitted will be published.
Related Posts
Investment Fraud: How to Safeguard Your Finances
Learn how to recognize and protect yourself from investment fraud. Discover key strategies to safeguard your money and avoid common scams.
6 Tips for Effective Savings Account Management
Learn key tips to manage your savings: maximize interest, maintain MAB/QAB, monitor fees, and leverage digital banking for better financial health.
Know the eligibility criteria applicable for a Credit Card
This blog covers key eligibility criteria and required documents for obtaining a credit card, guiding you through the application process.
How to Spot and Avoid Impersonation Scams
This blog explores how impersonation scams work, highlights warning signs, and offers tips to protect yourself from these sophisticated frauds.
Shop Smarter, Save Better: Discover ShopRite Credit Card
Turn everyday shopping into rewards with the RBL Bank ShopRite Credit Card. Earn cashback, rewards points, and exclusive benefits. Read more...
Understanding Benefits of Fixed Deposits for Senior Citizens
This blog highlights the key benefits of fixed deposits (FDs) for senior citizens and why they remain a secure, reliable investment choice.
How Can You Avoid Falling into the Fraudster’s Trap
This blog covers how to protect your personal and financial information from digital fraud by identifying common scams and following key safety practices.…
How to Protect Your Device from APK Fraud?
In this blog, we will explore APK fraud, where cybercriminals trick users into installing malicious files to steal data and control devices. Read More...…
Tips for Identifying Genuine Bank Communications
In this blog, we will guide you on identifying genuine bank messages and tips to protect yourself from cybercrime scams.
The Risks of Juice Jacking: Tips to Keep Your Data Safe
In this blog, we will explore juice jacking, a cybercrime where public USB charging ports steal sensitive information from your device. Read More....
Lost or Stolen Credit Card? Here’s Your Step-by-Step Guide
This blog covers the essential steps to take if your credit card goes missing, offering a simple and straightforward process. Read more...
How Cyber Insurance Can Save Yourself from Financial Loss
Learn how cyber insurance protects against cyber-attacks and how the RBL Bank GO Savings Account offers free coverage.
How do Credit Cards Work?
In this blog, we will explain what credit cards are, how they work, and provide tips for using them responsibly to make informed financial decisions.
Parcel Scams: How to Spot and Avoid Them
This blog highlights parcel scams in online shopping, where scammers pose as delivery services to steal info or money. Stay alert.
Step-by-Step Guide to Open RBL Bank’s GO Savings Account
Discover how RBL Bank’s GO Savings Account simplifies banking with digital ease, no balance requirement, and premium perks.
How to Spot and Avoid Dangerous Apps
Explore the dangers of apps from unauthorized sources, including malware, data breaches, and financial scams.
Financial Literacy Week 2024: Make a Right Start with Secure Online Ha..
Learn the best practices for online safety to help you navigate through the digital world with resilience and peace of mind.
How to Open a Digital Savings Account?
Opening a Digital Savings Account needs Aadhaar, PAN Card details and verification. Know these steps before opening a Digital Savings Account.
What are the types of Fixed Deposits?
Secure your future with Fixed Deposits (FDs) for guaranteed returns and flexible investment options. Learn more about different types of FDs.
How to Protect Passwords? Risks, Frauds, and Security Measures
Learn to protect your digital identity from hackers and scams with smart password choices and strong security measures.
How much money should you keep in your savings account?
A Savings Account offers more than saving; it’s a versatile tool with many benefits. This guide helps you navigate today’s financial landscape.
Ways to Protect Yourself Against Social Media Frauds
Beware of rising social media frauds! From phishing to identity theft, scammers exploit digital platforms. Learn to protect yourself from these scams.
Zero Balance, Maximum Benefits: RBL Bank’s GO Account
If you're looking for a way to save without having to worry about maintaining minimum balance, a Zero Balance Account is the way to go! Read More....
How to Safeguard yourself from Voice Cloning Fraud
Voice cloning mimics another person's voice using text-to-speech software, deep learning, and large audio datasets. Read more...
Safeguarding Your Identity: A Roadmap to Theft Prevention
Identity theft is one such threat that involves stealing individual’s personal or financial data to use their identity for fraudulent activities. Read More…
8 Common Banking Scams and How to Prevent Them
Read on to find out the different ways in which you could get caught in the web of cybercrime, in order to stay alert at all times.
Protect yourself from UPI Frauds
UPI frauds are becoming more sophisticated, so users must stay vigilant and take precautions to protect themselves.
NRE vs NRO and FCNR Accounts: Know the Complete Differences
If you're an NRI looking to open a bank account in India, this article covers the three main types: NRE, NRO, and FCNR.
Everything to know about Online Frauds
Stay informed and protected with the latest insights on online frauds, from prevention to recovery tips.
A Complete Guide to ATMs: Benefits, Purpose, and Tips
ATM has truly transformed the way we manage funds online. Learn more about its features and safety tips.
What is KYC? and How important it is in Fixed Deposit
KYC (Know Your Customer) is an RBI-regulated identity verification process. Learn about its full form, types, and importance in Fixed Deposits.
Fixed Deposit Premature Withdrawal and the Impact on Interest Calculat..
The FD premature withdrawal penalty calculator shows your earnings on existing Fixed Deposits. Learn about the implications of early withdrawal.
Fixed Deposit Vs Public Provident Fund: Which is Good?
Learn the differences between Fixed Deposits (FD) and Public Provident Fund (PPF), including their definitions, benefits, eligibility, and interest rates.…
What is Tokenisation and how important is it for you to use?
Tokenisation will offer an additional layer of security to users' sensitive data, preventing online and digital data breaches. Read More...
4 Reasons why you need the RBL Bank Cookies Credit Card
The RBL Bank Cookies Credit Card covers all expenses, from groceries and fuel to luxury purchases and online shopping.
5 Methods to Report a Lost or Stolen Debit Card
How to report a stolen or a lost debit card to the bank directly from your mobile. Read Here.
The definitive guide on salary and savings accounts
Understand the differences and similarities between a savings account and a salary account.
Steps to take if you are victim to a credit card fraud
Let us take a look at the different kinds of credit card scams and Immediate steps to take when you have been scammed.
How to choose the ideal RBL Bank Debit Card for yourself
Want to avail the ideal debit card that fits your requirements? Here’s everything you wanted to know.
Experience the new way of contactless banking
Get ready for uninterrupted contactless banking journey with seamless services, smart and secure features and a lot more.
All about CIBIL Score and how is it calculated
If you are looking for credit, you must have heard about the CIBIL Score from a lot of people around you. Let’s find out what it is, how it works, and why…
What is the difference between CIBIL Score and CIBIL Report?
Are you new to the world of credit and confused with all the terms coming your way? Want to know the difference between CIBIL Score and CIBIL Report? Here…
What does a 'Settled' status in your CIBIL report mean?
Most people would have a hard time understanding whether a 'settled' status on your CIBIL report is a positive or negative. Read on to understand this…
Understanding your credit card statement
The credit card statement highlights every detail. Most of the times, the only important aspect considered is the amount due. Nonetheless, there are various…
How to reset your PIN online
A PIN is the easiest way to keep your account safe. It’s good practice to keep changing it frequently. Here’s how to reset it.
How to redeem Credit Card reward points
Credit Card reward points can be redeemed for different products and services. Here is how to go about it.
What is a Credit Score & why is it important?
A credit score is a three-digit number assigned by a Credit Information Companies (CIC) to a borrower based on his or her track record WRT earlier and…
Benefits of owning multiple credit cards
Multiple cards give you access to a large amount of credit. It helps you make the most of the interest-free period. When used wisely, having more than one…