This is not a word that you come across in normal everyday conversation, as of course is often the case with financial jargon.

Malfeasance, as the mal part may suggest, refers to something bad.

Particularly it is the bad practice of, for instance, accepting some sort of bribe or incentive to perform some sort of financial transaction or taking a gift that could directly or indirectly be construed as resulting in your impartiality being waived or questioned. Therefore malfeasance may be a criminal act.

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