RICO meaning in Business ?

Answer: What is Racketeer Influenced and Corrupt Organizations Act mean?

The Racketeer Influenced and Corrupt Organizations (RICO) Act is a United States federal law that provides for extended criminal penalties and a civil cause of action for acts performed as part of an ongoing criminal organization.

RICO was enacted by section 901(a) of the Organized Crime Control Act of 1970 (Pub.L. 91–452, 84 Stat. 922, enacted October 15, 1970) and is codified at 18 U.S.C. ch. 96 as 18 U.S.C. §§ 1961–1968. G. Robert Blakey, an adviser to the United States Senate Government Operations Committee, drafted the law under the close supervision of the committee's chairman, Senator John Little McClellan. It was enacted as Title IX of the Organized Crime Control Act of 1970, and signed into law by US President Richard M. Nixon. While its original use in the 1970s was to prosecute the Mafia as well as others who were actively engaged in organized crime, its later application has been more widespread.

Beginning in 1972, thirty-three states adopted state RICO laws to be able to prosecute similar conduct.

reference

Full Form	Category
Racketeer Influenced and Corrupt Organizations Act	Business
Ricoh Ord	Business
Racketeer Influenced and Corrupt Organizations	General
Racketeer Influenced and Corrupt Organization	General
Racketeering Influenced Corrupt Organizations	General
Racketeering Influenced and Corrupt Organizations	General
Racketeer Influence and Corrupt Organizations	General
Regulated Industries Complaints Office	Governmental
Regional Interface Control Officer	Governmental
Racket Induced Criminal Operations	Governmental