: sexual activity especially when regarded as somewhat improper
We thought there was some hanky-panky going on between them. … if there was hanky-panky in the office, it was entirely discreet … Jonathan Galassi Today's Judeo-Christian culture has not shed this propensity to cheat. (If there weren't any hanky-panky, we wouldn't need the seventh commandment.) Daniel Engber
: questionable or underhanded activity
warned them not to try any hanky-panky financial/political hanky-panky
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