New Delhi (Agency): In an alarming case of identity theft, a 42-year-old man’s personal details were exploited to set up two trading companies, conducting fraudulent transactions worth nearly Rs 42 crore ($5.6 million) in Thane district, Maharashtra. The incident came to light when the man, who works as a storekeeper in a private firm, received unexpected Income Tax (I-T) notices demanding over Rs 46 lakh ($61,000).
The man, a resident of Ulhasnagar, earns a modest salary and was understandably baffled when he first received an I-T notice on May 22, asking him to pay some tax. Subsequent notices increased the collective tax demand to Rs 46.23 lakh, prompting him to inquire with the Income Tax department.
During his investigation, the man discovered that two current bank accounts were opened in a cooperative bank in Ulhasnagar using his PAN (Permanent Account Number), Aadhaar (national identity card), and other personal information. The police official noted that two trading companies named “Hari Om Textiles” and “Tulsi Traders” were created using the man’s credentials, and current accounts were opened in the companies’ names.
The official further revealed that between 2014 and 2017, transactions totaling Rs 41.91 crore were conducted through these two current accounts. The transactions were entirely unauthorized and were conducted without the knowledge of the man whose identity was stolen.
Upon discovering the fraudulent activities, the man filed a complaint with the Ulhasnagar police on August 12. A case has since been registered under Indian Penal Code sections dealing with crimes such as cheating, criminal conspiracy, and forgery.
This incident underscores the pressing issue of identity theft and the increasing ease with which personal information can be misused for criminal activities. In this particular case, the fraudulent actions were not discovered until the innocent man was confronted with unexpected tax notices.
The case raises several critical questions, including how the individual’s personal information was obtained and misused to create two companies, and why the large transactions went unnoticed for several years. It also calls attention to the security measures in place to protect citizens’ personal data and the need for more robust systems to detect and prevent such fraudulent activities.
The incident serves as a warning for both individuals and authorities to be vigilant in safeguarding personal information. For the average citizen, it emphasizes the importance of monitoring financial records, being cautious with whom personal information is shared, and reporting any suspicious activities to the relevant authorities promptly.