What Is Racketeering?

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By jamie
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3. Money Laundering

If you have made money through illegal channels, then you will not want the authorities to know about it. If you have a lot of money with no apparent legal source of this money then you may catch the attention of the authorities, and this can land you in a lot of trouble.

Many criminals will try to launder their money, which is to make it appear as though it was earned legitimately. One way to achieve this is to open a legitimate business through which illegal money can be paid, giving the appearance that the money was earned through honest means.

Racketeering

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