I gave my PAN card details to a fraud. How can I be safe?

 PAN card or Permanent Account Number has become a basic and mandatory proof of identity for financial transactions. Therefore, we are often asked to provide PAN card details in different situations. But it is advised to be careful about when and who you give your information to.

But what if you gave PAN card details to a fraud?

There has been a significant rise in PAN card frauds in India. If you have shared your PAN card details with someone who turns out to be a fraud, your information can be misused. Some of the most common PAN card frauds cases are:

• For Loan

In some cases, fraudsters use PAN card for taking a loan in your name from banks and finance companies.

• For Bank Account

PAN card is mandatory to open bank accounts. And fraudsters often use the information obtained from your PAN card to open accounts in your name.

• For Pension

Elderly people are often targeted by scammers through phone calls, SMSs, and emails and asked to share their PAN card and Aadhaar card details. These details are used to open pension accounts in the name.

• Travel Agents

Fraudsters target visa applicants to call them for travel dates, phishing calls, and use of your personal information including PAN details for large ticket transactions.

• Fake Credit Agencies

People receive numerous calls from Credit Card agencies and asked to share PAN details to carry out fraudulent transactions in their name.

Even when you are applying for a PAN card or a Duplicate PAN card trusted PAN card agent.

To apply for a new or duplicate PAN Card.

What happens if someone is using your information for their transactions?

The Income Tax Department of India issues a unique ID number in a PAN card to track all your transactions. Even if someone else is using your PAN card information, it will be reflected in your Form 26AS of Income Tax Statement. If you are an ITR filer, it would be easier for you to identify such PAN card fraudsters through your income statements. If you are exempted from paying tax, you may not realize the PAN card fraud committed in your name until an I-T notice reaches you.

Many cases have been reported throughout India where the PAN cardholder becomes aware of crores of rupees worth fraud after receiving a notice from the income tax department. Even a xerox copy of your PAN or Aadhaar card can be misused to obtain loans, credit cards, or loan collaterals. Some fraudsters use your information for lack of or low CIBIL score or bad financial situations.

How to avoid such PAN Card fraudsters?

Unfortunately, it may be up to 6 months before you are aware of such PAN card frauds. So here are some tips to avoid getting into such a tricky spot:

• Do not make your personal information like date of Birth and Place of birth a public record. Avoid sharing the same on social media or friends or unknown people.

• Be certain to whom and for what reason you are submitting your personal details. Always write the date and purpose of sharing your PAN Card xerox.

• Additionally, keep a picture of the documents you are sharing for future reference.

If you are looking to apply for a new PAN card or have any PAN card grievances, just Dial-A-Pan at 977–377–6776 for a quick resolution to your queries.

What happens if a fraudster obtains a copy of my PAN or Aadhaar card?

 PAN Card and Aadhaar Card are two government-issued IDs with a unique identification number awarded to the residents of India. An individual can use the Aadhaar card or PAN card as identity proof and avail of numerous services and government schemes.

No individual or entity can have more than one of each ID. To avail of these services, we share our personal information and IDs with banks, government agencies, private companies, etc.

While availing of such services, we are prone to pan card frauds and Aadhaar card frauds. In the past few years, there has been a hike in PAN card frauds in India. You are advised to be cautious when sharing your personal information or copy of ID proofs with anyone. With the Aadhaar and PAN card frauds & scams becoming too common, many questions pop-up in the minds of users:

• Can someone misuse my personal information?
• Will I suffer a monetary loss if a fraudster has my Aadhaar or PAN card copy?
• Can someone withdraw money from my account linked with my Aadhaar card?
• Is identity theft possible with a copy of just an Aadhaar card or PAN card?
• Has any PAN cardholder suffered any financial loss due to misuse of his ID proof?

Recently, the government discontinued 11.44 Lakh PAN cards in the name of non-existent individuals and entities. This shows how to pan card frauds in India are on a rise.

In a recent case of Mr. Gupta from Madhya Pradesh, he received a payment notice from the Income Tax Department for Rs. 134 Crore. With only Rs. 84,00/- as a yearly income it came as a shock to Mr Gupta that he has to pay such an extreme amount as a loan.

In a similar case, a person received a loan payment notice from a private bank that he had never visited in his life. In both cases, fraudsters misused the PAN card & Aadhaar card information of Indians to take loans and open businesses.

However, is it that easy to withdraw money from your account with just a copy of your ID cards? The answer is NO. Banks have strict regulations in place to verify a transaction with your signature, OTP or fingerprints.

Most online payment methods and ATM cards require further authentication to debit your account. This ensures the safety of your financial transactions that use your personal information.

The Aadhaar issuing authority, UIDAI, has assured that no Aadhaar holder has suffered any financial or other loss or identity theft due to misuse or impersonation of Aadhaar.

Safeguard your privacy by trusting authorised PAN card agents like Alankit to apply for new, lost or duplicate PAN card in India. For your ease, you can just Dial-A-PAN and get a resolution to all your PAN Card queries and grievances.

Permanent Account Number (PAN) frauds and ways to prevent them

 Permanent Account Number (PAN) and its use

Permanent Account Number or PAN is a unique ten-digit number issued by the Income Tax Department of India. A PAN enables the IT department to identify & link all transactions of the PAN holder for the purpose of tax payment, TDS/TCS, income returns, etc. Through PAN card, the information of the PAN cardholder, their transactions, investments, borrowings, and business activities can be easily retrieved by the taxation authority.

As of 2019, the Income Tax Department of India had issued 445.7 million Permanent Account Numbers. Today, a PAN is an important document required for filing income tax returns, opening a bank account, applying for insurance, etc. It is essentially used as a photo ID proof by individuals and corporations to apply for these services. However, most are unaware of the increasing pan card frauds in India.

PAN Card frauds in India

“Man earning Rs. 84,000 a year receives I-T notice to explain Rs. 134 crore deals”

“Man’s PAN card details stolen, Rs. 20 crore transactions made under false identity”

“Fake Aadhaar, PAN cards used for duping banks”

Headlines like these have become quite frequent in the news today. With the number of places we provide our PAN cards, without a second thought, identity theft has become a real cause for concern. In a world where we are increasingly dependent on online means for transactions, and availing services, protecting the physical copy of your PAN card is no longer enough.

 If you have recently received a notice from the I-T department or charged extra on your credit cards, there is a strong possibility you are a target of identity theft.

Ways scammers do identity theft

1. Phishing

A scammer can contact you via email, phone, Facebook, Instagram or text, impersonating legitimate businesses like bank, credit card company, internet service provider. They can give you a link to share your personal details to apply for their services and misuse your information.

2.   Teleselling

People often ask: is it safe to share pan card number with consultancy? The answer is NO. If anyone contacts you and asks for your credit card information to confirm your identity or complete a transaction, do not share any information. To ensure the identity of a company like Alankit, visit their website, check their reviews before sharing any details.

3.  Fake surveys

While browsing, you may be asked to share your feedback or complete a survey for discount coupons or some gratification. If they ask for personal information like PAN card, do not participate.

4.  Malware

Sometimes, cybercriminals target you with the lure of free software or download. If prompted for the same, do not download such software unless they are from a trusted site. You may download malware with such downloads that will enable hackers to track your movements and steal your personal details.

How to avoid pan card theft?

(a)Avoid opening short links that you receive via emails or SMS, that insist you to logon to their website.

(b) Install updated and genuine antivirus on your smartphones and PC.

(c) Do not share any password or financial information via SMS or email.

(d)Don’t share your birthplace, date of birth or mailing address on social media platforms.

(e)Change your passwords periodically and avoid using the same pattern or passwords for all your applications or cards or accounts.

(f) Check your bank and credit card statements regularly and report any unrecognised transactions.

(g) Mention the purpose whenever you share the xerox copy of your PAN Card within anyone.

 

To apply for a new PAN card, any pan corrections, or loss of PAN card, always use trusted agencies to help you out. Companies like Alankit that have provided PAN Card services for over 25 years, can be trusted to keep your personal information private and secure.

 

For any PAN card related query, visit - https://www.alankit.com/govt-services/pan/