Digital banking and online financial services have definitely increased facilities, but with this, cyber fraud is also increasing rapidly. Criminals steal PAN card information and use it to take out a loan or credit card. By the time a person gets to know about it, their credit score is already affected.
How to check a fake loan on a PAN card
If you want to ensure that no fake loan has been taken out in your name, then checking the credit report is the easiest and most reliable way.
For this, you have to visit the website of a recognized credit bureau like CIBIL, Experian, Equifax, or CRIF High Mark. You have to fill in your PAN number, mobile number, and personal information there. After verification with OTP, the entire report becomes available on the screen. It contains information about every loan and active credit card taken in your name.
What to do if you find a fake loan in the report
If your credit report shows a loan that you have not taken out, it is important to take immediate action. First of all, inform the bank or financial company that issued the loan. Also, contact the credit bureau and file a formal complaint. A copy of the identity card, details of the fake loan, and an affidavit have to be submitted along with the complaint. Apart from this, also complain to the cybercrime cell of the nearest police station with the information about the misuse of your PAN card so that a legal investigation can be done and your name remains safe.
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Experts advise
Financial experts believe that credit reports should be checked from time to time so that information about any unauthorized activity can be obtained immediately. Also, PAN card details should be shared only on trusted platforms.