Protection Racket

(redirected from Protection payment)
Also found in: Dictionary.

Protection Racket

The practice in which businesses and/or individuals in an area periodically pay money to an organized crime syndicate in return for freedom from harassment. In other words, when the money is paid, the syndicate will protect businesses from acts of violence from other groups (or from the syndicate itself).
References in periodicals archive ?
A special rule for margin protection payments and similar allowances provides that a taxpayer may not reduce the numerator of the cost complement by the amount of an allowance, discount, or price rebate that is related to or intended to compensate for a permanent reduction in the taxpayer's retail selling price of inventory (margin protection payment or markdown allowance).
Currently, Mortgage Protection Payment Insurance, or MPPI, guarantees payments if you lose your job or are unable to work through accidents or illness.
The Zetas, now splintered, set the fire to exact protection payments.
The family members argued as a contingency position that even if the payments were not insurance premiums, they were indemnification protection payments and therefore deductible as ordinary and necessary business expenses.
MPs have heard concerns that those people aren't eligible for any transitional protection payments and so may see a change in their income from benefits.
India: The government saved almost $9 billion in less than four years, in social protection payments through electronic Direct Benefits Transfers.
IME Pay is also poised to effectively address G2P, P2G and P2P payments, including direct disbursement of social protection payments to beneficiaries in rural/underserved locations.
In addition, the group may be replenishing its ranks by abducting children from communities unable to make protection payments, he suggested.
While payments to conserve forests are starting to flow under the UN's REDD+ programme, and the Green Climate Fund has committed $500mn for forest protection payments, total public investment in sustainable land use remains inadequate.
While payments to conserve forests are starting to flow under the UN's REDD+ programme, and the Green Climate Fund has committed $500 million for forest protection payments, total public investment in sustainable land use remains inadequate.
While payments to conserve forests are starting to flow under the UN's REDD+ program, and the Green Climate Fund has committed $500 million for forest protection payments, total public investment in sustainable land use remains inadequate.
The final regulations detail the proper calculation of ending inventory values under the retail-inventory method, and provide alternative calculation methods for taxpayers using the retail-lower-of-cost-or-market (retail-LCM) method of accounting to account for margin protection payments.
Full browser ?