security of providing information on Schedule FA (R2I from USA ciitizen)

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rizmit
Posts: 3
Joined: Tue Feb 20, 2018 12:03 am

security of providing information on Schedule FA (R2I from USA ciitizen)

Post by rizmit »

Schedule FA asks very detailed information about your foreign bank names and account numbers, and the Income Tax department also knows your US Social Security Number (through PAN or kYC) - is there not a concern that with such information falling into wrong hands your foreign bank account can be compromised ?
GutsyGibbon
Posts: 1267
Joined: Fri Jan 19, 2007 2:56 am

security of providing information on Schedule FA (R2I from USA ciitizen)

Post by GutsyGibbon »

I would recommend that you put a freeze on your credit at all the three agencies before you apply for a PAN. IMHO, a SSN written on paper and mailed is certainly is certainly not safe anymore.
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