两个术语均与委托保管款项有关。区别在于defalcation是指无法说明委托保管资金去向或无法交付委托保管款，其并非一定为犯罪或渎职或玩忽职守行为[1]，故不能简单译为“贪污公款”或“挪用公款”，而应译为“亏空委托保管款项”。相比之下，embezzlement更具有反面性，指故意欺诈性地侵占、转换、使用因职务、雇佣或地位关系而所托付之金钱或财产之犯罪行为，故可译为“侵吞或挪用公款罪”以及“侵占信托财产罪”[2]。在这点上，它与defalcation不能等同（尽管有些法律词典也认为这两个术语基本等同，如第7版的Black's Law Dictionary) 。

[1] "Failure to account for or pay over money that has been entrusted to one's care；also ：an instance of such failure. Defalcation does not necessarily involve culpability or misconduct. " Cf. Linda Picard Wood，J. D,，Merriam Webster's Dictionary of Law, at p. 127, Merriam-Webster, Incorporated (1996). "Misuse, misappropriation, or loss of funds over which one has fiduciary responsibility as a trustee, a corporate of public official，or the like. " Cf. James E. Clapp, Random House Webster's Dictionary of the Law, at p. 129, Random House (2000).“ Includes any fraudulent act or omission of a public officer that occasions loss in money or property to (a) Her Majesty；or (b) persons other than her Majesty when such money or property was in the custody of the public officer in the course of his official duties, whether such loss is recovered or not. ”Cf. Public Officers Guarantee Regulations, C. R. C.，c. 723, s. 2.
[2] "the crime of converting to one's own use property of another that is lawfully within one's possession. The usual case involves the taking of money over which one exercises control in the course of one's job. ”Cf. James E. Clapp, Random House Webster's Dictionary of the Law, at p. 156, Random House (2000).