PAN fraud is taking loans in your name and crushing your credit score in India

Published on 24 April 2026

Criminals use stolen PAN to trigger loans without consent

A growing scam in India is using stolen PAN details to apply for and secure loans without the victim’s consent. These fraudulent accounts can rapidly damage credit scores, making future borrowing harder. Victims are urged to act immediately—contact lenders, file a police complaint, and update credit bureaus—while pushing for stronger, secure data-sharing practices.

Stolen PAN details are being used to take loans without consent
Fraudulent loans can quickly lower credit scores and limit future credit
Victims should report to lenders, police, and credit bureaus immediately
Secure data sharing is critical to protecting financial identity

#pan fraud #identity theft #personal finance #consumer protection #credit score

Read the full story at The Economic Times

This summarization was done by Beige for a story published on The Economic Times

PAN fraud is taking loans in your name and crushing your credit score in India

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