From Simple English Wikipedia, the free encyclopedia
Racketeering
is a type of
organized crime
in which there is a
fraudulent
or illegal scheme to repeatedly or consistenly collect
money
or other profit.
[1]
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 traditonal 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.
[2]
Examples of organized crime include, though are not limited to,
Dog fighting
,
drug trafficking
,
credit card
fraud, money laundering and
bribery
.