Protection Racket

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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).
IRS issues prop. Regs, on retail-inventory method
Currently, Mortgage Protection Payment Insurance, or MPPI, guarantees payments if you lose your job or are unable to work through accidents or illness.
Give us a break; MORTGAGE COVER DEALS MADE FAIRER
The Zetas, now splintered, set the fire to exact protection payments.
At least 23 killed in fire at Mexico bar
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.
Tax Court denies microcaptive insurance arrangement: Entities were not insurance companies and did not provide insurance in the commonly accepted sense, the court holds
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.
Government faces fresh legal challenge over Universal Credit; Campaigners will argue a key Department for Work and Pensions (DWP) policy is "irrational" and has a "disproportionately adverse effect" on disabled claimants
India: The government saved almost $9 billion in less than four years, in social protection payments through electronic Direct Benefits Transfers.
General Interest - Governments can fight corruption by joining the digital payment revolution
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.
IME pay announces the introduction of its B2B services
In addition, the group may be replenishing its ranks by abducting children from communities unable to make protection payments, he suggested.
Shabaab militants weakened in Somalia, UN official says
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.
Natural solutions to climate change
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.
Let's plant more trees to combat climate change
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.
Natural solutions to climate change
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.
Changing method of accounting to comply with new retail-inventory method regulations
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