DEFALCATION Meaning of DEFALCATION in English n. formal 1 Law a a misappropriation of money. b an amount misappropriated. 2 a shortcoming. 3 defection. [ ME f. med.L defalcatio (as DEFALCATE) ] Concise Oxford English dictionary. Краткий оксфордский словарь английского языка. 2012