How to be safe from PAN card frauds | Job Binary

Permanent Account Number (PAN) card is the most essential document required for any financial transactions. It comes with a 10 digit alphanumeric number, which is nothing but a code containing some important information about the PAN card holder.

Each pan contains 10 digits in a fixed combination of alphabets and letters. The first 5 letters are always alphabetic, followed by 4 numeric digits and ending with an alphabet again.

Incidents related to PAN scams are on the rise these days.

PAN card scams

In such cases, the PAN information is used and the consent of the victim is not even sought regarding the issue of loan.

How to avoid PAN card frauds?

– Compulsorily use your PAN card.

-Do not fill details of date of birth or full names in public or on unsecured 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. Date the documents along with your signature while submitting them.

-Track the locations where you have submitted physical photocopies of your PAN card.

– Conduct credit score checks at regular intervals.

-If you have saved your PAN details in your mobile, delete them.

-Check your Form 26A regularly to ensure that there is no suspicious activity on your PAN card. Form 26A of your income tax return records all financial transactions made with your PAN.

Steps to check if your PAN card is misused:

-Anyone can check his/her PAN number for misuse by simply generating credit scores.

-Through CIBIL, Equifax, Experian or CRIF High Mark, they can find out if any loan has been disbursed in their name.

-You can visit fintech platforms like Paytm or Bank Bazaar to check your financial reports.

-For this, the user needs to enter your personal details like name, date of birth, your PAN card details to find out if someone else has taken a loan on your PAN card.

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