Racketeering refers to criminal activity that is performed to benefit an organization such as a crime syndicate. Examples of racketeering activity include extortion, money laundering, loan sharking, obstruction of justice and bribery. The Racketeer Influenced and Corrupt Organizations (RICO) Act became U.S. law in 1970, permitting law enforcement to charge individuals or groups with racketeering.

Investopedia Says:
Racketeering is the illegal activity that is inherent to organized crime. These crimes are committed with the protection and advancement of the organized-crime "business" in mind. Racketeering usually refers to continued engagement in criminal activity.

Related Links:
Learn about some of the creepiest cases of fraud and the characters behind them. The Ghouls And Monsters On Wall Street
Does a job as a financial sleuth sound interesting to you? Dig in to learn more. Uncovering A Career In Forensic Accounting
Forex scams are more common than you may realize. Know the signs before you throw your money away. Spotting A Forex Scam
Despite their reputation, the debt securities known as "junk bonds" may actually reduce risk in your portfolio. Are High-Yield Bonds Too Risky?

Copyright ©2010, Investopedia.com - Owned and Operated by Investopedia US, A Division of ValueClick, Inc. All rights reserved.