Definition, Meaning & Synonyms
defalcation
Noun
/ˌdɛfəlˈkeɪʃən/
Definition
The act of taking or misappropriating funds that have been entrusted to one’s care.
Examples
- The accountant was charged with defalcation after it was discovered he had embezzled funds.
- Many financial institutions have strict oversight to prevent defalcation by their employees.
Meaning
Defalcation refers to a situation where someone, often in a position of trust, illegally takes money or property that belongs to another party.
Synonyms
- Embezzlement
- Misappropriation
- Expropriation
