Protection Racket

A business combination of extortion schemes controlled by a criminal syndicate. For the "promise" of security, significant sums of money are seized from persons, businesses, communities, or even nations. While the racketeer may in fact provide real protection, it is at a cost the victim would never voluntarily assume under normal circumstances. Often the promise of security is accompanied by a veiled threat.

"This is President Obama calling. Don't think of this as some kind of Protection Racket...think about it as life insurance. Your country has numerous external security threats. You are also very dependent on trade for continued economic growth. It would be terrible to experience a security failure in that part of the world. We stand ready to protect you against that kind of threat. But in order to do that we need about a billion dollars this week. Recognize we are partners in this now. It takes a village. We know we can count on your support.

14👍 6👎