Some users of the Indiabulls-owned Dhani Loans and Services app have complained that unknown third parties have misused their PAN card details to seek loans on the platform, CNBC-TV18 reported.
Alleging that their PAN card details were used by unknown people to avail loans via Dhani, some have complained that they are facing show-cause notices by collection agents for loans they never took.
Complainants added that their credit scores have also been impacted, as credit reports have listed loans they had never availed as defaults.
Customer allegations
Prominent complaints include one by Reuters journalist Aditya Kalra who wrote on Twitter: “Shocking revelation in my credit report. A loan disbursed by IVL Finance (Indiabulls) Dhani with my PAN number and name, addresses in Uttar Pradesh and Bihar. I have no clue. How can a disbursal happen on my name and PAN? In default already.”
Twitter user Pranesh had the same complaint. “Someone avails loan using my Aadhar and PAN details. I have not received any communication or OTP from Dhani. Today your person visited my house as he was not able to get in contact with the number registered during loan availment,” he wrote.
Another user Niraj Mehta said: “Someone availed loan using my PAN details. I have not received any communication or OTP from Dhani. I found this from my credit report, the fraudster is somewhere from Delhi. Mobile number registered is also fake.”
Dhani confirms misuse
Speaking to CNBC-TV18, a spokesperson for Dhani acknowledged this, stating: “It has come to our notice about a few cases where unscrupulous people have used other people’s PAN and thus credentials from credit bureaus to take a loan through the fintech operation on the app.
“We have taken remedial measures including talking to all complainants and establishing if it is a case of identity theft. We are also rectifying complainants’ records in the credit bureaus immediately in case of identity theft,” the spokesperson told the channel.
The spokesperson added that Dhani has integrated with global security platform G-defence, to re-verify each device against a specific customer and PAN through various data-fields “to stop these stray incidents of identity thefts".
The company has also increased strength of their customer service team to 6,500 people. “We will leave no stone unturned to mitigate any possibility of identity theft on our fintech platform,” the spokesperson stated.
The person added: “We have given small transaction finance loans to over 35 lakh people in last 12 months and 99.9 percent of this has gone to genuine people. The industry has been facing individuals who try to defraud both, us companies and unsuspecting citizens.”
A statement from Dhani read: "The digital and tech ecosystems are evolving, and the industry has been facing individuals who try to defraud both, companies and unsuspecting citizens. While there are many cases of fraudsters taking advantage of people who mistakenly share credentials and OTPs of their own volition, cases of identity theft are also on a steady rise. Our risk management and tech teams, therefore, have been on overdrive, constantly building more robust systems to try and keep such activities at a distance. We are taking all necessary steps to fully eliminate such behaviour by fraudulent people.”
About Dhani
Dhani Loans and Services, formerly Indiabulls Consumer Finance (ICFL), is a non-deposit taking non-banking financial company registered with the Reserve Bank of India (RBI). It is a 100 percent subsidiary of Dhani Services.
As per the company website, it is a completely online personal loan fulfilment offering that provides customers with money directly in their bank accounts. It also caters to SMEs.
The company advertises that it can give personal loans “almost instantaneously” using only PAN cards and address proof as documents.
The Dhani app has over 5 crore downloads on the Google Play Store.
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