okay thankyou ,i was under the impression that the LCN in nyc was pretty much taken as a joke now a days but thanks for clearing this up..also I know that the Russian mafia has a hook on hacking and computer fraud so is the LCN involved in the same type of fraudulent activity??? Okay and you said the LCN is still involved in extortion,do you mean like Collecting Protection money from local shops and restaurants or some other form of extortion??? and thanks again for the info @IvyLeague
Eurasian organized crime groups are very adept at various types of financial scams. I read once that 60% of cases involving Eurasian OC has to do with some type of fraud. The LCN is also involved with various types of fraud, sometimes partnering with Russians or other ethnic groups. The gas tax scam is probably the most well known example. Others would include stock fraud and healthcare fraud.
Extortion can come in many forms. Yes, the old shakedown of a local business for protection money. Extortion is a major weapon used in the mob's labor rackets. There's also extortionate extension of credit, i.e. loansharking.
The demise of the mob in New York, while a reality, has been very much overplayed. You can look at the cases in recent years to see that it's still very active there. And law enforcement officials, who previously made many predictions about wiping it out, have become much more cautious in doing so. It's a slow process that depends on attrition more than anything.
