Detecting Fake Loan Scams: In the era of digital banking, while obtaining an instant loan from the comfort of your home has become easy, cases of fraud are rising just as rapidly. Fraudsters often misuse individuals' documents to secure loans in their names; the victims often remain unaware of this until they receive a notice from the bank.

Such fraud can severely damage your CIBIL score, making it extremely difficult to secure genuine loans in the future. Let’s understand—in simple terms—how you can detect this type of fraud from home using just your PAN card.

**Use Credit Score Websites**

The easiest way to gather information about loans active in your name is to visit the website of an official credit bureau, such as CIBIL. Alternatively, you can check your free credit score on trusted financial apps like Paytm, Paisabazaar, or CRED, which display your complete loan history.

**Your PAN Number Reveals Your Full Loan History**

When you enter your name, mobile number, and PAN card number on these portals, you will receive an OTP on your phone. Once you enter it, a detailed credit report will appear on your screen. Navigate to the 'Active Accounts' section of the report and carefully check which loans or credit cards are listed.

**Take Immediate Action if You Spot Unknown or Suspicious Loans**

If the credit report shows a loan you never actually took out, realize that you have fallen victim to fraud. Do not panic in such a situation; simply note down the suspicious loan account number and the name of the bank. Then, immediately lodge a complaint with the customer care department of the concerned bank or lending institution.

**The Correct and Legal Way to Report a Fake Loan**

In addition to complaining to the bank, you can file an online FIR via the Government of India's official cybercrime portal (cybercrime.gov.in). You should also submit a written complaint regarding the matter on the RBI's 'Sachet' portal. Once the investigations by the bank and the cyber police are complete, your CIBIL score will be rectified, and you will avoid legal trouble.

PC Social Media