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Racketeer Influenced and Corrupt Organization Act

Racketeer Influenced and Corrupt Organization Act definition - finance
A federal law, passed in 1970, that was designed to eliminate the infiltration of organized crime and racketeering into legitimate businesses involved in interstate commerce. RICO allows civil as well as criminal penalties to be brought against individuals and companies that are allegedly involved in organized crime.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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