Pan Card

How to avoid PAN card scams|

How to avoid PAN card scams|

Permanent Account Number (PAN) card is the most important document required for various financial transactions. It comes with a 10-digit alphanumeric number which is nothing but a code that contains important information about the PAN card holder.

Each PAN contains 10 digits in a fixed combination of alphabets and letters. The first 5 characters always end with an alphabet, followed by 4 digits and back to the alphabet.

In recent times, there has been an increase in the number of incidents involving PAN fraud.

PAN card scams

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

How to avoid PAN card fraud?

– Use your PAN card only as required.

– Do not enter your date of birth or full name on public or unsafe online portals.

-This information can be used to look up your PAN number on the income tax website.

– Keep original and photocopy of your PAN card. Enter the date manually when submitting the documents.

– Track locations where you have submitted physical copies of your PAN card.

– Regular checking of credit score.

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

– Regularly check Form 26A 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 whether his PAN number has been misused by simply generating credit scores.

-By using CIBIL, Equifax, Experian or CRIF High Mark, they can determine whether any loan is granted in their name.

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

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

Watch all business news, market news, breaking news stories and breaking news from Live Mint. Download Mint News app to get daily market updates.

More Less

Source link

Optimized by Optimole