Sunny Leone issued loan she never applied for: How to prevent such frauds using PAN

A loan of Rs 2,000 was issued using the PAN card details of actor Sunny Leone without her knowledge. She complained her credit score took a hit as a result. Sunny reportedly became the latest target of identity theft on the fintech platform Dhani Stocks Limited, a 100 percent subsidiary of Indiabulls. Dozens of users of the platform have complained about the same issue in the past. Recently, a spokesperson of Dhani acknowledged the issue and said they are taking remedial issues to solve the problem.

However, frauds on fintech platforms are increasing. The RBI identifies cyber fraud as the biggest threat to fintech. Users are prone to identity theft via leakage of data from fintech platforms.

Use Form 26A: Form 26A of income tax return records all tax payments and financial transactions made with PAN card. Checking Form 26A regularly can help identify fraudulent activity and file a complaint early.

Exercise caution: Avoid filling details like birth date or full names on insecure online portals. These details can be used by scamsters to trace PAN number on the Income Tax website.

Prevent offline leaks: Always secure original photocopies of PAN card. Keep a track of the submitted physical photocopies of your PAN card.

Keep PAN card safe: Avoid using PAN card as an ID proof. Use other documents such as Aadhaar, Driver’s License and Voter ID that are less vulnerable to fraud. Immediately file an FIR if a PAN card is lost.

Avoid saving data and passwords: Passwords and PAN details saved on mobile devices, computers and websites may be vulnerable to fraud.