What is the definition of "embezzlement"?

The term "embezzlement" specifically refers to the act of stealing or misappropriating funds that have been entrusted to someone's care, particularly in a fiduciary or professional context. This crime typically involves individuals who have access to financial resources through their roles—such as employees or executives—who take money or property for personal gain rather than using it as intended.

Unlike legitimate earnings of funds, embezzlement is inherently fraudulent and illegal. It also does not relate to legal investments, which involve proper channels and regulations. Additionally, characterizing embezzlement as a type of banking error misrepresents its intentional nature; banking errors are typically accidental and do not involve deceit or betrayal of trust. Thus, the answer underscores the seriousness of embezzlement as a breach of trust in financial dealings.