Poor CIBIL score helps man unearth loan fraud of Rs 5 lakh

PUNE: A 38-year-old employee of an automobile company recently visited his bank to seek a home loan and was shocked to know that he was not eligible as he had a poor CIBIL score.
Authorities told him that he had already taken loans worth Rs 5 lakh from eight different private banks and finance institutions.
The victim told TOI on Tuesday: "I was taken aback when the bank officials told me about the loans. I checked for myself on the credit information website which showed details of the loans. Fraudsters used my PAN details and my bank customer identification number to secure these loans between February and May. Surprisingly, I never got an intimation from any of the banks or finance firms regarding payment of loan instalments."
On May 12, the victim, a resident of Rupeenagar, lodged a complaint with the Chikhali police, who are now investigating the case.
An officer from the Chikhali police told TOI, "We suspect the fraudsters may have accessed the victim's PAN card and bank identification number from the support documents he had submitted in the past for securing personal loans and finance. The fraudsters replaced the victim's photo on the PAN card with someone else's photo and availed loans in the range of Rs 8,000 and Rs 1.6 lakh." "We have sought details of transactions from the firms," the officer added.