How to stay safe from PAN card scams
Every PAN contains 10 digits in a fixed combination of both alphabets and letters. The first 5 characters are always alphabets, followed by 4 numeric digits and ending again with an alphabet.
In recent past there has been increasing number of incidents related to PAN scams.
PAN card scams
In such cases, the PAN information is used and the victim is not even asked for his consent on the issue of a loan.
How to avoid PAN card frauds?
-Use your PAN card only where compulsory.
-Don’t fill details of birthdate or full names publicly or on insecure online portals.
-These details can be used to trace your PAN number on the Income Tax website.
-Secure the original and photocopies of your PAN card. Put the date with your signature when submitting documents.
-Keep track of the places where you have submitted physical photocopies of your PAN card.
-Conduct credit score checks at regular interval.
-If you have saved your PAN details on your mobile, delete them.
-Check your Form 26A regularly to ensure that there are no suspicious activities on your PAN card. Form 26A of your income tax return records all the financial transactions made with your PAN.
Steps to check if your PAN card has been misused:
-Any person can check whether his/her PAN number has been misused by simply generating credit scores.
-Through CIBIL, Equifax, Experian or CRIF High Mark, they can detect whether any loan has been disbursed under their name.
-You can also visit fintech platforms such as Paytm or Bank Bazaar to check your financial reports.
-For this, the user need to enter your personal details such as name, date of birth, along with your PAN Card details to find out if someone else has taken a loan on your PAN card.