USA HISTORY

Detailed explanation-1: -The pizzo (Italian: [ˈpittso]) is protection money paid to the Mafia often in the form of a forced transfer of money resulting from extortion. The term is derived from the Sicilian pizzu (’beak’).

Detailed explanation-2: -protection racket. noun [ C ] a situation in which a criminal group demands money from a store owner, company, etc. in exchange for agreeing not to harm them: run a protection racket These thugs ran a vast protection racket with which all property-owners had to co-operate if they hoped to survive.

Detailed explanation-3: -A “racket” is a fraudulent and often illegal activity that is often carried out by means of extortion or intimidation. For example, in a protection racket, business owners in an area must pay local criminals to avoid physical harm or property damage, either by criminals from that organization or a different one.

Detailed explanation-4: -Rackets are illegal businesses operated by criminal organizations to produce cash profits for members. The oldest of crime rackets include theft, burglary, armed robbery, extortion, loan sharking, smuggling, murder, prostitution, narcotics, counterfeiting, illicit gambling, tax evasion, labor racketeering and fraud.