Racketeering

Racketeering is a type of organized crime in which there is a fraudulent or illegal scheme to repeatedly or consistently collect money or other profit.

Racketeering might refer to an organized criminal act in which the criminals fraudulently offer services that will not be put into effect or services to problems that do not exist. In many other cases, though, the traditional racketeering may involve criminals offering an effectual service, like protection from other criminals. 

The terms racketeering and racketeer were first used back in 1927. The terms came from a statement of the influence of organized crime within the Teamsters union.

Examples of organized crime include, though are not limited to, Dog fighting, drug trafficking, credit card fraud, money laundering and bribery.

References

Category:Organized crime