How do I protect myself from a loan fraud?
How do I check if someone is misusing my Aadhar or PAN (permanent account number) to take a home loan in my name?
—Name withheld on request
Detecting any misuse of your KYC (know your customer) documents for raising loans is crucial to protect against identity theft and financial fraud. Identity theft and fraudulent loan applications can have severe consequences, including damaged credit, financial loss, and legal troubles. If you suspect misuse of your KYC documents, it is essential to take immediate action to verify and protect your identity. Here are several steps to do this:
Regular check of credit reports: You can request a copy of your credit report from one or more credit bureaus. You are entitled to one free credit report annually from each bureau. Carefully examine the report for any unfamiliar loan accounts, inquiries, or credit applications that you did not authorize.
Check loan-related communication: Pay attention to any loan-related correspondence such as emails, letters, or SMS notifications. Be cautious of unexpected loan approval or rejection messages. If you receive any communication regarding loans you didn’t apply for, contact the lender mentioned in the communication to investigate further.
Contact lenders directly: If you suspect fraudulent loan applications, reach out to the lenders directly. Explain your concerns and request information about any loan applications made in your name. Provide any relevant information or evidence you may have, such as the date, time, or location of the loan application.
Reporting: If you have concrete evidence or strong suspicions of identity theft or fraud, consider filing a police report. Provide them with all the relevant information and evidence you have gathered.
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