Phone-based fraud has entered a new era; one marked by deepfakes, artificial intelligence (AI)-driven impersonation scams and massive financial losses for consumers and businesses alike. As imposter calls and account takeovers surge, TransUnion® is committed to creating and refining solutions that help protect businesses and consumers from fraud.
At our recent Trusted Calling Summit — Empowering Brands and Reducing Fraud — we interviewed one of our presenters, TransUnion Senior Director of Product Management Henry Hayter. He shared why our Spoofed Call Protection (SCP) solution has become a strategic focus and what that means for businesses navigating imposter scams and fraud — while working to leverage call authentication solutions for branded calling. Over 30 TCS customers attended the event.
Watch the video: Secure Branded Calling Hinges on Call Authentication
Can you share some examples of how spoofed calls have led to significant financial losses or reputational damage?
Well, I have personal examples as well as statistical examples. From a personal perspective, my father, a retired, 70-year-old veteran living on a fixed income, fell victim to an account takeover scam. Scammers sent him a text claiming his account was compromised and managed to drain $50,000 from his Home Equity Line of Credit (HELOC). While the bank eventually reimbursed him, the experience caused him significant stress and damaged his trust in the institution. This is one of the reasons I’m so passionate about my work.
Statistically, account takeovers account for nearly 30% of all fraud losses at financial institutions, with banks losing 1%–5% of gross revenue to fraud. For some larger financial organizations, that results in the loss of billions of dollars.
Do you think the fact that Neustar is now part of TransUnion makes a difference in terms of identity and helping customers?
Absolutely. Being part of TransUnion really improves how we handle sensitive data and strengthens the trust our customers place in us. We now have access to TransUnion’s governance frameworks and independent vetting processes, so every customer relationship goes through a thorough, unbiased review. We also follow strict data safeguards — things like knowing exactly where data comes from, how it’s stored and how it’s ultimately purged. TransUnion’s been doing that kind of disciplined data management for years; it’s been a huge advantage for us to build on that foundation.
Is there any myth or misconception about Spoofed Call Protection you could put to rest?
One common myth is SCP is only for financial institutions. In reality, it’s trusted brands that are most at risk. When someone gets a phone call from their health care or insurance provider, the Social Security Administration or a local utility, they tend to trust that call — and that’s exactly what scammers exploit. They impersonate those trusted brands to collect personal information and commit fraud. So, the risk goes far beyond banks — it affects any organization people inherently trust.
