Pancard Update: PAN card acts as a bridge for financial transactions, without which many problems arise. When you go to open an account in a bank, the priority is considered to be a PAN card. Many times, your PAN card is stolen or even disappears. If something like this has happened to you, then you need to be alert.
Many times, cyber fraud takes a loan on your PAN card, which you do not even get a hint of. You can check if there is a loan running on your PAN card. Sometimes you get information only after the bank’s recovery notice comes. This spoils your CIBIL score, due to which you may have to face many obstacles in taking a loan in the future.
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Know how fraud happens?
All the banks in the country do many types of verification before giving a loan, but cyberfraudsters easily find ways to break the rules of the system. They target fintech apps or small loan-giving companies. This also weakens the verification process a bit. If a cyber fraudster has taken a loan in your name, then the responsibility of repaying it also becomes yours.
When the EMI of the loan is not paid for any reason, your CIBIL score goes down rapidly. A score above 750 is considered good. But a default takes it below 500. Due to this, taking a loan from any bank in the future becomes a very difficult task.
Do this immediately if you become a victim of fraud
If, for some reason, an unknown loan appears in your report, then there is no need to panic. Some important steps will have to be taken first.
Contact here first
On getting the information about the loan, first of all, you will need to register a ‘Dispute Resolution’ or ‘Complaint’ with CIBIL or whichever bureau you have taken the report from. You will have to tell her that this loan is not yours.
You will have to contact the concerned bank.
You will have to contact the bank or fintech company from which the loan was taken, and you will have to inform them about the fraud.
Where to register a complaint
If a loan is taken out due to cyber fraud, first of all, you have to contact the nearest police station or the National Cyber Crime Reporting Portal (www.cybercrime.gov.in) or helpline number 1930. You will have to register an FIR by contacting here.