defalcation
C2CEFR level
97/100Rarity: very rare
TechnicalRegister
Law noun
The misappropriation of money or property held in a fiduciary capacity.
The audit revealed a substantial defalcation by the finance director, who had diverted funds to himself.
Business noun
The misappropriation of funds by a person entrusted with their custody.
The audit uncovered a long-running defalcation by the trusted cashier.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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