Money laundering is the illicit process of disguising the profits of criminal activities as legitimate income. Involving multiple stages, including placement, layering, and integration, it aims to hide the origin, existence, or use of illicitly gained funds.
An activity designed for the purpose of achieving gains, often involving extortion or the sale of illegal substances or services. Racketeering is an organized conspiracy to accomplish such activities.
Originally known as an organized conspiracy to commit extortion, racketeering today includes various punishable offenses legislated by Congress to eradicate organized crime, offering enhanced sanctions and new remedies for prosecuting illegal activities of those involved in organized crime.
The underground economy comprises economic activities that go undetected by taxing authorities, often involving barter or cash transactions. These activities include both illegal operations and those that would be legal if recorded.
