A ripoff (or rip-off) is a grossly unfavorable financial transaction.
It originated as slang that has entered into standard English usage as a business term.
[1] Usually it refers to an incident in which a person is overcharged for something, or receives goods or services not of the standard expected for the price.
A ripoff is usually distinguished from a scam in that a scam involves wrongdoing such as a fraud; a ripoff may be considered excessive, but not illegal.