How to Remain Safe When PAN Card Scams on the Rise

Permanent Account Number (PAN) card is the important document require for each financial transaction. It has a ten-digit alphanumeric number on it, which is more than a code that contains important information about the PAN cardholder.

Every PAN has ten digits made up of a predetermined combination of alphabets and letters.

The first five characters are always alphabets, follow by four digits and another alphabet.

There has an increase in the number of occurrences involving PAN frauds in recent years.

In such senario, the victim’s PAN number is utilise, and he is not even ask for his approval before a loan is issue.

How to Prevent PAN Card Frauds?

• Only use your PAN card when it is require. 
• Filling down your birthdate or complete name in public or on insecure web portals is not a good idea.
• You can use these details to look up your PAN number on the IRS website.
• Keep your PAN card original and photocopies safe.
• When submitting documents, provide the date alongside your signature.
• Keep track of where you’ve hand in physical photocopies of your PAN card.
• Check your credit score on a frequent basis.
• Delete your PAN details if you have them save on your phone.
• Check your Form 26A on a regular basis to guarantee that your PAN card is free of suspicious activity.
• All financial transactions performed using your PAN are record on Form 26A of your income tax return. 

How to Check if PAN Card Misused?

• By creating credit ratings, anyone can check whether their PAN number has exploit.
• You can check if any loans have disburse in their name using CIBIL, Equifax, Experian, or CRIF High Mark.
• You can also view your financial records on fintech platforms like Paytm or Bank Bazaar.
• To find out if someone else has taken a loan on your PAN card, the user must input personal information such as name, date of birth, and PAN card details.