UPSC Aspirant's PAN Card Misused for Massive Rs 256 Crore GST Fraud in Varanasi
A shocking case of financial fraud has emerged in Varanasi, where the PAN card of a student preparing for the UPSC civil services exam in Delhi was misused to open a fake firm with GST registration and apply for a bank loan. The incident, which has been reported to the cyber police in Varanasi, highlights serious vulnerabilities in identity verification processes.
Discovery of the Fraudulent Activity
The fraud came to light when the student, Anurag Mishra, attempted to make an online payment at a library in Delhi on January 17. Despite repeated efforts, the transaction failed, prompting him to check his bank account. To his horror, he discovered a negative lien of Rs 25,59,15,000 (approximately Rs 25.59 crore) on his savings account with ICICI Bank's Hazratganj branch in Lucknow.
Alarmed by this development, Anurag immediately contacted ICICI Bank's customer care, which advised him to visit the nearest branch. On January 19, he went to the Hazratganj branch in Lucknow, where bank officials directed him to the GST office for further clarification.
Investigation and Official Response
At the GST office, Anurag was informed that his PAN card details had been fraudulently used to register a firm named Uttara Enterprises and apply for a loan. The registered address provided for this fake entity was B 54/4, Ashok Vihar Colony, Sarnath Road, Varanasi. Upon detecting the fraud, GST officials promptly alerted the bank, leading to the imposition of the negative lien as a protective measure to block transactions from the account.
Following these revelations, Anurag's father, Kamlesh Kumar Mishra, who resides in an apartment in the Sarnath area of Varanasi but is originally from Manak Nagar, RDSO Colony in Lucknow, filed a complaint with the cyber police in Varanasi. Assistant Commissioner of Police (Sarnath/crime) Vidush Saxena confirmed that an FIR has been lodged and investigation teams are actively working on the case.
Nature of the Fraud and Legal Proceedings
ACP Vidush Saxena stated that this is a clear case of financial and GST fraud. Although the incident does not strictly fall under the purview of cyber fraud, authorities have registered the case due to its severe implications. The negative lien placed on the account acts as a restriction, preventing the legitimate account holder from accessing their own funds, thereby safeguarding against further unauthorized transactions.
Anurag Mishra, who is currently staying in Karol Bagh, Delhi, to prepare for the UPSC exam, holds the savings account in question at ICICI Bank's Hazratganj branch. The misuse of his PAN card for such a large-scale fraud has raised concerns about identity theft and the ease with which fraudulent entities can exploit personal information for financial gain.
Broader Implications and Ongoing Investigation
This incident underscores the critical need for enhanced security measures in financial and governmental systems to prevent identity theft and fraud. The investigation is ongoing, with police teams working to trace the perpetrators behind the fake firm and the fraudulent loan application. Authorities are also examining how the PAN card details were compromised and used without the student's knowledge.
As the case unfolds, it serves as a stark reminder for individuals to regularly monitor their financial accounts and report any suspicious activity immediately. The collaboration between GST officials and the bank in this instance helped mitigate potential losses, but the emotional and financial distress caused to the victim remains significant.
