Succumbing to a PAN card fraud, Pramod Kumar Dandotiya, 25, from Gwalior, Madhya Pradesh, reported that transactions worth Rs. 46 crore occurred from his bank account as income tax charges on 30th March. The individual remained unaware until receiving a notification from both the Income Tax and GST authorities, revealing that a company had been registered using his PAN card details.
The company registered under his PAN card has been in operation in Mumbai and Delhi since 2021. He reported to the concerned authorities stating “I am a college student in Gwalior. After the notice from Income Tax and GST, I came to know that a company has registered through my PAN card which is being operated in Mumbai and Delhi 2021. I do not know how my PAN card has been misused and how the transactions have been done,” to news agency ANI.
The surprised individual took this matter to the officials concerned but no action was taken by the police officers even after multiple complaints filed. Later on Friday, he reached out to the Additional Superintendent of Police and lodged a complain again.
Additional Superintendent of Police (ASP), Shiyaz K M commented saying that the documents regarding the same are being checked. He further acknowledged that the company registered under his PAN card is being misused by making transactions of substantial amounts of money.
How can your PAN card be misused against you?
Recently, there has been a notable increase in PAN card fraud cases, posing risks of identity theft and financial harm to individuals. It’s crucial to understand the potential misuse of PAN cards and how to prevent it.
Your PAN card holds sensitive personal data like your name, date of birth, photograph, signature, and PAN number. If this information is compromised, it can lead to various fraudulent activities.
Firstly, perpetrators could exploit your PAN card details to open fraudulent bank accounts, making you liable for their actions.
Secondly, they might use your PAN details to apply for loans or credit cards in your name, leaving you accountable for any resulting debts.
Moreover, PAN card information can facilitate identity theft, which can have severe and lasting consequences.
To safeguard against misuse, store your PAN card securely and refrain from sharing its details unless necessary. If you suspect misuse, promptly report it to the relevant authorities.
How to check if someone is using your PAN card?
You can check if someone is using your PAN card by checking your CIBIL score or credit score. It is the best way to know if any unauthorized loans have been taken under your name.
Preventive measures to take avoiding misuse of your PAN card
- When providing photocopies of your PAN card, ensure they are attested and include the purpose for submission.
- Avoid inputting your complete name and birth date on dubious websites.
- Regularly monitor your credit score.
- Review Form 26AS for transactions associated with your PAN card.
The authorities confirmed that further investigations are being done regarding the fraud.
