Loan: Can someone else take a loan in your name? You may find this question strange, but it is happening. There are not one or two but many such cases where scammers have taken loans using someone’s PAN card. The user comes to know about all this after a long time. This is no big deal in this age of cyber fraud.
Cyber criminals keep finding new ways to cheat people. One such way is loan fraud. This is not a new method but it has been around for a long time. Many such frauds were exposed during the corona epidemic. In loan fraud, cybercriminals take loans in the user’s name without even knowing it.
By the time the user gets to know about it, the loan and interest in his name has gone up a lot. In such an event, the first question that arises is how someone can take a loan in your name without your knowledge. The second question is how you will know about all this and the third question is how you will survive.
How does loan fraud happen in your name?
First of all, how does this game happen without your consent? Actually, scammers play the whole game with the help of user’s PAN card and mobile number. Scammers take out small loans in users’ names, so that they don’t have to go through the hassle of verification.
There have been many instant loan apps in recent times. These apps claim to give you a personal loan in minutes. Scammers take advantage of this and play the whole game of fake loans. Instant loan providers provide small loans only on customer’s PAN card and mobile number.
Has anyone taken a loan in your name?
We share our PAN or Aadhaar card with other people on many occasions. Your PAN card is linked to a bank account. In this case, you can get your CIBIL score checked from the bank.
If users want, they can also check their CIBIL score through any agency. This shows how many loans you have in your name. If someone has taken a loan (fake) in your name and it is not repaid, the CIBIL score will go down.
A credit report is the easiest way to find out how many loans and credit cards you have in your name. Both loan and credit card details are available in users’ credit reports. In this way you can check out how many and how many types of loans you have in your name.
You can check your credit report on CIBIL, Equifax, Experian and CRIF High Mark. Apart from this, you get this feature on many other third party apps as well.
To check credit report, you have to enter your name, address, mobile number and OTP received on these websites. In this way, you will get complete information about the loan running on your PAN card.
What to do if you see an error?
If a user sees a discrepancy in his credit report, he can contact both the credit bureau and the credit provider. You have to tell them about this error and ask them to correct the error.
How to save?
This is the biggest question. The best way to avoid any such fraud is to keep yourself alert. That is, caution is safety. You should not share details like Aadhaar and PAN card with any stranger.
In any situation, if you have to share a copy of your PAN card or Aadhaar card, write the reason on the copy. That is, write exactly for what purpose this copy of Aadhaar card or PAN card will be used. Note while writing that part of it also goes on your card, so that it cannot be used for any other purpose.
Has no one else taken a loan in your name?
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