From Longman Dictionary of Contemporary Englishracketeeringrack‧e‧teer‧ing /ˌrækəˈtɪərɪŋ $ -ˈtɪr-/ noun [uncountable] SCwhen someone earns money through crime and illegal activities people involved in smuggling and racketeering He has been arrested on racketeering charges.
Examples from the Corpus
racketeering• Kelly is awaiting trial on fraud and racketeering charges.• He says the public does not always appreciate the social cost of large scale fraud and racketeering.• New capital crimes would include the use of firearms; hostage-taking; torture; sale of drugs to minors and racketeering.• Observers noted that a large number of those involved in racketeering and smuggling were among the estimated 500,000 troops demobilized since 1987.• The charges included racketeering, conspiracy, bank fraud, securities fraud, misapplication of funds and interstate transportation of stolen property.• The collapse of the command economy has given way to a good deal of racketeering and corruption.• My guess is that it's a front for polite racketeering.• One of the government's liaisons with racketeering is partially documented. 