How the broker cheats his clients?

This year there were 18 default brokers.

In this current world, with NSE/BSE and SEBI regular inspection. It is heavily moderated/controlled.

How on earth do brokers actually dodge/bypass the regulators ?
Are the inspections not worthy ? or are they blind to find out default brokers ? What is the reality ? How can brokers default when it’s highly regulated ? Is the inspection not very strict ?

Kindly share your opinion/views…

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How ?