Banged up lead criminal in cartel for illegal activity (7,7)

I believe the answer is:

insider dealing

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'for illegal activity' is the definition.
I can't tell whether this defines the answer.

'banged up lead criminal in cartel' is the wordplay.
'banged up' becomes 'inside' (I've seen this before).
'criminal' is an anagram indicator.
'in' is an insertion indicator.
'cartel' becomes 'ring' (both can mean a criminal group).
'lead' is an anagram of 'deal'.
'deal' going within 'ring' is 'rdealing'.
'inside'+'rdealing'='INSIDER DEALING'

Can you help me to learn more?

(Other definitions for insider dealing that I've seen before include "Illegal trading" , "crime" .)

I've seen this clue in The Guardian.

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