Racketeering is a set of illegal activities aimed at commercial profit that may be disguised as legitimate business deals. Racketeering is defined by a coordinated effort by multiple people to repeatedly earn a profit. Typically, by fraud, extortion, bribery, threats, violence, or other illegal means. (See 18 U.S.C. § 1961)
The Racketeer Influenced and Corrupt Organization Act (RICO) is the primary law that outlines and criminalizes racketeering activities.
Examples of racketeering activity may include: money laundering, drug trafficking, or other forms of organized crime.
[Last updated in August of 2023 by the Wex Definitions Team]