What Is Racketeering
The term racketeering comes into crime or fraud. All the crimes which are committed either by extortion or coercion come into racketeering. The main aim of a racketeer is to snatch the money or property from a person on the basis of force or some other way. This term is also considered as an essential form of organized crime. With the help of this term, it is easy for us to define more than thirty-five offences in the US. If you are not able to write an academic paper about racketeering, then you can get help from experts in cheap dissertation writing services. The complete information about racketeering is given below;
Law against Racketeering
An act under the name of RICO is made to control racketeering in a society. RICO stands for Racketeer Influenced and Corrupt Organization Act. In 1970, these kinds of crimes were at its peak in the US. Therefore, the US government approved this law. Before this law, it was difficult to arrest any person who was a racketeer. If a person is arrested as a racketeer, then he is sent to the jail. With the help of this law, the US government is enabled to eradicate these kinds of criminal activities from their country.
The crimes which are considered as racketeering
There is a huge list of such crimes which come into racketeering. Here, we will discuss some of them. As we know that the banking system provides a legal way to transfer money from one country to another country. If a person adopts another illegal way to transfer the money, then this thing is known as money laundering and money laundering come into racketeering. As we know that during the court proceeding, there require witnesses. If a person tries to alter the witness or prevent to become a witness in the court, then this thing is known as witness tampering and witness tampering also comes into racketeering. Moreover, mail and wire fraud and waste management fraud also come into racketeering.
How does racketeering work?
If we are studying racketeering subject, then we come to know that it is a complex subject. Anyhow, if we talk about the basics of racketeering, then we come to know that its basics are not so much difficult. Here, we will discuss the racketeering work in three simple steps. These steps are explained below;
- The racketeering is done in an organized way by making a group. An organization or corporation prepares a group of experts who provide assistance to each other for the purpose of money laundering and some other kinds of frauds.
- The racketeering is not limited to the organizations and corporations only but its roots are also found in the individual members of the society. That’s why all the organized crime activities like fraud management are also treated under the RICO.
- These racketeers prepare a fine pattern of the illegal activities. According to RICO, if a person is caught in two acts of racketeering, then he will be sent to jail for at least 10 years.
Therefore, we can say that if we are interested in the progress of a country, then we will have to get rid of racketeering.