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Misuse of PAN card in digital banking

With the advent of digital banking, it has become easier than ever to obtain fake loans or credit cards by misusing PAN cards. To avoid this, checking the CIBIL report and Annual Information Statement (AIS) of the Income Tax Department from time to time is considered an effective solution. If you suspect any suspicious activity, it is necessary to immediately inform the cyber cell and the concerned bank.

How to know that your PAN card is safe?

If you want to ensure that your PAN card is safe, it is important to check your credit report regularly. You can check this by visiting the websites of agencies like TransUnion CIBIL, Experian and Equifax, where free reports are available once a year. While checking the report, make sure that there is no loan or credit card that you are not aware of. Also, keep an eye out for any unknown bank account or credit enquiries. You can also easily check your credit score with the help of apps like Google Pay, Paytm and CRED.

Check AIS and Form 26AS

Download the Annual Information Statement or Form 26AS by visiting the e-filing portal of the Income Tax Department. It contains all the important information to your PAN, like your bank accounts, interest received and high value transactions. If an unknown account appears here, it could be a warning sign.

warning signs

– Sudden drop in your credit score.

– Receiving call from unknown bank or NBFC.

– Rejection of loan without application.

– Seeing suspicious transactions in bank statements.

– All these can be early signs of misuse of PAN card.

What to do if fraud is detected?

– File a dispute with the credit bureau immediately.

– Complain to cyber cell or police.

– Inform your bank immediately.

– If necessary, contact the Income Tax Department for PAN security.

Experts recommend checking your credit reports and AIS every 3-6 months. This will help you to be alert before major losses occur.