Why do PAN Verification?
Today, identity proof is essential to access goods and services. With this have also risen the cases of identity theft and data breaches that point towards the devastating consequences when criminals gain access to our identity information. Moreover, increased government and industry regulations (such as AML, KYC, and SOX) put the responsibility on businesses to carry out identity authentication and make sure their customers aren’t fraudsters or identity thieves.
Each individual who is assessed for the tax has a permanent account number (PAN). This is also recognized as an identity proof for Indian nationals. PAN verification can help authenticate identity to avoid frauds.
AuthBridge has an access to authentic data from NSDL. Using advanced APIs, we can verify PAN information, resulting in quick PAN card screening. PAN verification requires a Name and PAN Number/image of your PAN card which can be read through OCR technology. Antecedents validated through instant PAN checks include:
- Name of the person
- PAN Number
This also returns the date of issue of the PAN Card