Crime racket now and then between two US cities (7)
I believe the answer is:
larceny
'crime' is the definition.
(larceny is a kind of crime)
I can't explain the remainder of the clue.
Can you help me to learn more?
(Other definitions for larceny that I've seen before include "Robbery" , "crime" , "Criminal activity" , "Burglary" , "taking offence" .)