Racketeering meaning

A system of organized criminal extortion of money or favors from businesses through the use of violence, intimidating, or other illegal means; a pattern of illegal activity carried out by a criminal group or syndicate, including but not limited to fraud, murder, extortion, and bribery. See also bribe, bribery, extort, extortion, and fraud.
noun
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The criminal action of being involved in a racket.
noun
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Present participle of racketeer.
verb
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Origin of racketeering

Coined by the Employers' Association of Chicago in June 1927 in a statement about the influence of organized crime in the Teamsters union.