"The Five Families" refers to the five major Italian-American organized crime families that dominate the Mafia in New York City. These families are the Gambino, Genovese, Lucchese, Bonanno, and Colombo families. Each family has its own leadership structure, territory, and criminal operations, which include activities like extortion, racketeering, and drug trafficking. The term gained prominence during the mid-20th century, particularly during the Valachi hearings in the 1960s, which exposed the inner workings of the Mafia. While their influence has waned due to law enforcement efforts, these families remain significant in discussions about organized crime in the United States.