What is the difference between racketeering and white collar crime?

Racketeering and white collar crime are both illegal activities, however, there are key differences between the two. Racketeering is a type of criminal activity which involves a group or organization that engages in illegal activities to earn money. This can include extortion, bribery, fraud and money laundering. This type of crime typically takes place in a hidden or underground criminal economy. White collar crime, on the other hand, is a non-violent, illegal activity which typically involves the use of deception or concealment of information to obtain money or goods illegally. White collar crimes can include theft, bribery, fraud, insider trading, forgery and embezzlement. The main difference between racketeering and white collar crime is that white collar crime is usually done by a single person or organization, while racketeering is usually committed by large groups or organizations involved in criminal activities. In addition, racketeering is often seen as more organized and sophisticated than white collar crime. In Washington, racketeering is punishable by a fine of up to $50,000, up to 10 years in prison, or both. White collar crimes are typically punished more severely, depending on the severity of the crime and the amount of money involved. The punishment can include up to 20 years in prison, a fine of up to $250,000 and restitution of lost funds.

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What is the difference between racketeering and white collar crime?

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