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The RICO Act was enacted in 1970 to combat organized crime in the United States by allowing prosecution and civil penalties for racketeering activity.

Racketeering activity refers to the act of engaging in a defined set of criminal acts as part of an enterprise, including but not limited to bribery, fraud, and murder for hire.

RICO allows for extended criminal penalties and a civil cause of action for acts performed as part of an ongoing criminal organization.

Under RICO, an 'enterprise' is defined as any individual, partnership, corporation, association, or other legal entity, and any union or group of individuals associated in fact although not a legal entity.

RICO establishes a list of crimes, known as predicate offenses, that can form a pattern of racketeering activity, such as gambling, murder, kidnapping, arson, drug dealing, and bribery.

A 'pattern of racketeering activity' requires at least two acts of racketeering activity within a 10-year period.

Violators of the RICO Act can be sentenced to up to 20 years in prison per racketeering count and can be fined up to $250,000 or twice the proceeds of the criminal activity.$

Aside from criminal penalties, the RICO Act also allows for civil lawsuits, where a private individual can sue for treble damages (triple the amount) plus costs of the suit, including attorneys' fees.

RICO includes provisions for the forfeiture of all gains obtained through criminal activity, including any business interest or property.

RICO acts alongside state laws, where individuals can be prosecuted under RICO as well as under state criminal statutes for related crimes.

The RICO Act includes measures to protect witnesses and victims, such as keeping identities confidential and providing security against intimidation.

RICO can significantly impact the structure and financial strength of crime syndicates by disrupting their activities, confiscating assets, and deterring associates through harsh penalties.

Legitimate businesses can be affected by RICO if they are found to be part of a pattern of racketeering activity, leading to potential legal battles and financial losses.

While initially aimed at traditional organized crime, RICO has been effectively used to prosecute white-collar criminal enterprises, such as insider trading and embezzlement schemes.

A core component of the RICO Act's enforcement is that the criminal enterprise must be 'ongoing,' indicating that it has continuity and is not a series of isolated incidents.

The RICO Act applies to enterprises that affect interstate or foreign commerce, giving it a wide range of applicability across state and national boundaries.

Law enforcement agencies can use RICO proactively to dismantle criminal organizations before crimes escalate, providing a tool for preventing as well as punishing crime.

RICO allows for the civil recovery of assets in cases where crimes affecting an organization's operations are discovered, hence compensating those harmed by the racketeering activity.

The stringent penalties and broad application of the RICO Act create a substantial deterrent against the formation and operation of criminal enterprises.