"Easily" is a subjective claim. You can read the congressional testimony of Harry Markopolos from the Madoff scandal, where he explicitly says that SEC is hobbled because regulators do not have the werewithal to attend these hob-nobbing conferences. I am not in the finance industry, so my sources can only be public documents.

https://www.fraud-magazine.com/article.aspx?id=313

Everyone’s seen the “consequences” like the ones Elon Musk faced after tweeting “funding secured”