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Consumer Catch-up: Phone scams netted $30 billion last year

The average per-case loss was about $500.

INDIANAPOLIS — Here's today's Consumer Catch-up.

Victims lose billions to scammers

Americans lost nearly $30 billion to phone scams over the past year.

That's nearly three times the amount reported in 2019, according to a study by True Caller.

The average reported loss was just over $500.

Remember, signs of scam include a sense of urgency, a consequence and specific demands like a wire transfer or gift card.

IRS warns of tax credit scam

The Internal Revenue Service is warning people about scams related to the Child Tax Credit Payments.

The IRS wants to remind people that they will not text, call or email you for personal information.

Don't click on any links, even if you get an attachment that looks like its a document. Just erase it. 

Garcia added that the IRS doesn't accept iTunes gift cards as payment, either.

Walmart launches insulin brand

Insulin, a life-saving medication for diabetics, is expensive. So Walmart is launching its own brand to make it more affordable.

Walmart says their products will save customers up to 75 percent off the cash price of branded analog insulin products.

The ReliOn products will be available this week at Walmart pharmacies and launches in Sam's Club pharmacies next month.

Another retailer closed on Thanksgiving

Bed Bath & Beyond stores will not be open this Thanksgiving, so cross it off your list of things to do that day.

The retailer made the announcement Monday while also unveiling new employee benefits.

Starting July 1, employees will be eligible to receive eight weeks off - fully paid - for parental leave following the birth, adoption, or fostering of a new child.

The company is also providing a new short-term disability benefit that covers full pay for up to eight weeks and partial pay after that.

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