What is the RICO Act?
The Racketeer Influenced and Corrupt Organizations Act, commonly referred to as the RICO Act, is a United States federal law enacted in 1970, which allows criminal and civil penalties for any individual or organization convicted of racketeering crimes. The RICO act is a broad law that can be used to target crimes spanning from drug trafficking to cybercrime and criminal fraud.

What crimes does the RICO Act cover?
Under the RICO Act, the crimes that are covered are referred to as racketeering activities or “predicate” crimes. These crimes include trading in narcotics or drugs, counterfeiting government securities and currency, robbery, bribery, extortion, fraud, and other forms of theft including embezzlement. More recently, the RICO Act has been used to target money laundering, obstruction of justice, and even cybercrime. Furthermore, the Act can also be used to target terrorist activities as well as organized crime.

What are the penalties under the RICO Act?
Under the RICO Act, individuals or organizations found guilty can face both criminal and civil punishments. The criminal penalties associated with RICO violations can include incarceration for up to twenty years, fines up to $250,000 for individuals and $500,000 for organizations, and asset forfeiture. Additionally, individuals and organizations found guilty under the RICO Act are subject to civil charges as well, including hefty damage awards to victims.

Overall, the RICO Act is a powerful tool that helps the federal government and other law enforcement agencies to target and prosecute individuals and organizations involved in various forms of criminal activity.