Financial misconduct refers to illegal or unethical actions within financial markets or institutions. This broad category includes activities such as fraud, market manipulation, insider trading, money laundering, and breach of fiduciary duty. Such behavior undermines market fairness, erodes investor confidence, and can lead to significant financial losses for victims. Regulatory bodies actively investigate and prosecute instances of financial misconduct to uphold market integrity and deter illicit practices.
Context
The digital asset space presents unique challenges for combating financial misconduct due to its pseudonymous nature and global reach. Incidents like pump-and-dump schemes, rug pulls, and wash trading in crypto markets frequently constitute financial misconduct. Regulators worldwide are working to adapt existing anti-money laundering (AML) and know-your-customer (KYC) frameworks to address these emerging forms of illicit financial activity effectively.
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