Business Desk – PAN Card Fraud: In today's time, taking loan has become easy, but with this the danger of fake loan has also increased. Fraudsters can take a loan in the name of another person by misusing PAN card and other personal information. Many times the real person comes to know about this when he checks his credit report or applies for a new loan.
How to take fake loan using PAN information?
PAN is used for many financial purposes like loan, credit card, banking and investment. Fraudsters can obtain PAN and other personal information through fake links, emails, messages or data leaks. After this, an attempt is made to take a loan in the name of another person through digital verification. Once the loan is received, its record can be recorded in the credit history of the original person.
Credit score can deteriorate due to fake loan
If the fake loan taken in your name is not repaid on time, the outstanding installments may appear on your credit report. This may damage the credit score. There may be difficulty in taking a new loan or credit card and in some cases you may have to pay higher interest.
How to find out if there is a loan in your name
Check your credit report from time to time to detect fake loans. Look carefully at all the loan and credit inquiries recorded in it. If the name of any bank or financial institution appears from which you have never taken a loan, then immediately contact the concerned institution. Checking your credit report yourself does not affect your credit score.
Where to complain if you get a fake loan?
If a loan appears in your name which you have not taken, then first of all give a written complaint to the concerned bank or NBFC and ask to get the loan investigated. Also file a dispute against wrong information with the credit bureau. If the case is of online fraud or identity theft then file a complaint with the police or cyber crime portal. RBI also advises to immediately inform the local police or cyber crime authorities in such cases.
When to complain to RBI?
If the problem is not resolved even after complaining to the bank or NBFC, then the complaint system of RBI can be resorted to. Generally, it is necessary to first complain to the concerned institution. If a satisfactory solution is not received from the institution, a complaint can be made to the RBI Ombudsman.
So keep checking your credit report regularly and do not ignore any unknown loan or credit enquiry. By making a timely complaint, the process of correcting the wrong records can be started.
