The criminal action of being involved in a racket.(noun)
Present participle of racketeer.(verb)
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Use "racketeering" in a sentence
"That quote used the term racketeering to describe his activities."
"THE House of Representatives 'Ad Hoc Committee reviewing activities in the Oil and Gas sectors from 1999 - 2008 has indicted former President Olusegun Obasanjo, while recommending stiff penalties against ministry officials responsible for what it described as racketeering in oil blocks' awards during the period under review."
"Of course, exactly the same Chinese prostitution racketeering is doubtless happening in America, only on a bigger scale."