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"shadow activities" is a correct and usable phrase in written English.
You can use it when referring to activities that are occurring in the background but that may have an effect on the main activity. For example, "The government is aware of the shadow activities of the corporation's lobbying activities."
Exact(1)
Vinnychuk added that one of the most common shadow activities is smuggling.
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Who knows how well the national economy might be doing if all that shadow activity could be properly accounted for.
Since the update speed for shadow model is faster than that for the background model, the shadow model can become the background model when a pixel shows frequent shadow activity.
The rapid expansion of lending in unregulated and often opaque shadow banking activities, in particular, has worried many.
The government leadership that took the helm in March has been fairly outspoken about potential financial risks and has sought to rein in shadow banking activities.
But a big increase in "shadow banking" activities and debts built up by local governments, for example, are a concern, the World Bank said.
Given efforts to rein in shadow banking activities and potential challenges from abroad as the Federal Reserve scales back its support of the U.S. economy, "we caution that this uptick may not last either," she said.
More recently, a sharp increase in so-called shadow banking — activities outside the formal banking sector that often entail riskier, less regulated lending — has further fanned concerns about credit quality.
Opposite to the US case, the Spanish banking regulation has a much larger regulatory perimeter for banks than the US, and therefore it did not foster the creation of shadow banking activities.9 In addition, Spain was pioneer on the use of countercyclical buffers.
Many so-called banks are in fact deeply involved in shadow banking activities.
"Sometimes, you wonder whether Uri's entire public career has actually been a front for his shadow world activities".
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com