In today’s digital age, financial frauds have become increasingly common — and one of the most dangerous is PAN misuse. Fraudsters can use your PAN card to take loans in your name without your knowledge, which can later hurt your credit score and even make you liable for debts you never took. Here’s how you can quickly check if any fraudulent loan has been taken using your PAN and what steps you should take to protect yourself.
1. Check your credit report (CIBIL) – the easiest way to detect fraud
The simplest and most reliable way to know if a loan is running on your PAN is by checking your credit report. Think of it as a real-time tracker for all your credit activity. Credit bureaus like CIBIL, Experian, and Equifax maintain a record of every loan or credit card linked to your PAN.
2. How to download your credit report for free
Go to the official websites of CIBIL, Experian, or Equifax. Enter your PAN number and mobile number to verify your identity. Once logged in, you can download your free credit report. This report lists all loans, credit cards, and recent credit inquiries made in your name.
3. What to look for in the report
Go through your credit report carefully. If you see:
-
A loan or credit card you never applied for
-
An unfamiliar bank or finance company
-
Incorrect account numbers or details
-
Any unknown credit inquiries
These are red flags indicating possible fraud. Take immediate action before your credit score is damaged.
4. What to do if you find a fraudulent loan
If you discover a suspicious loan or credit entry:
-
Contact the lender listed in your report and inform them of the fraudulent activity.
-
Raise a dispute with the credit bureau (CIBIL, Experian, etc.) by filing an online complaint. Submit identity proof and an affidavit stating the details of the fraud.
-
Visit your local cybercrime police station and file a complaint along with an FIR to ensure legal protection.
5. How to prevent PAN misuse
To safeguard your PAN card:
-
Never share your PAN on unverified websites, apps, or WhatsApp messages.
-
When giving a photocopy, always sign it and mention the purpose (e.g., “For bank KYC only”).
-
Use strong passwords for online banking and credit accounts.
-
Enable SMS and email alerts for every loan or credit inquiry linked to your PAN.
