Aadhaar and PAN Misuse: Punjab Man Held for Rs 1.6 Crore Loan Fraud on 50 Victims

The Delhi Police have arrested a 24-year-old man from Mohali, Punjab, in connection with a digital loan fraud that used stolen Aadhaar and PAN card details to unlawfully secure personal loans. The syndicate is believed to have targeted approximately 50 individuals, fraudulently obtaining loans totalling around Rs 1.6 crore.

The arrest was made by the Cyber Police Station in Rohini after a victim filed a complaint on June 25, stating he had been receiving repeated calls from a recovery agent demanding EMI payments for a loan he had never taken. Upon checking his credit report, the complainant discovered that a personal loan of Rs 4.5 lakh had been sanctioned in his name by a private finance company using his PAN card. Police found that the mobile number linked to his Aadhaar had been changed without his knowledge, enabling the fraud. An FIR was registered and an investigation initiated.

Investigators traced the loan amount to a bank account belonging to Ajay Kumar, a resident of Mohali. Police said the accused had withdrawn the money in cash. Based on technical surveillance and intelligence inputs, the team arrested him and recovered a mobile phone allegedly used in the crime. Forensic analysis of the phone revealed that the complainant's personal details had been shared between the accused and his associates before the loan was processed.

During questioning, the accused disclosed that he was part of a network that used victims' identity documents to secure loans from private finance companies. The loan amounts were routed through bank accounts of individuals who agreed to let their accounts be used in exchange for a commission. Police said the racket also involved changing the mobile numbers linked to victims' Aadhaar cards without their knowledge. Once control over the Aadhaar-linked mobile number was obtained, the syndicate misused the details to complete digital loan applications.

Rohini Deputy Commissioner of Police Shashank Jaiswal told NDTV that the investigation has revealed the syndicate is larger than initially believed. So far, Aadhaar and PAN details of nearly 50 victims have been misused to obtain loans worth around Rs 1.6 crore from a private non-banking finance company. He urged citizens to avoid sharing personal identity documents on unknown websites and to use only trusted government portals or verified platforms when submitting sensitive information.

Cyber law expert Pawan Duggal said such frauds are becoming more common because data protection measures are not being implemented effectively. He noted that the incomplete implementation of the Digital Personal Data Protection Act 2023 and weak compliance with Know Your Customer (KYC) and data protection standards by several service providers have created opportunities for cybercriminals to exploit personal information.

Delhi Police said efforts are underway to identify other members of the syndicate, trace additional mule bank accounts, and find more victims who may have been targeted using the same method. Further investigation is in progress.