Malversation

n. Corruption, as of a public official

Yes, we are aware that “corruption of a public official” may be redundant. See “criminal lawyer”.

Examples:

He charged him with several grievous acts of malversation in office, with abuses of a public trust of a great and heinous nature.
— Edmund Burke, speech “On the Nabob of Arcot’s debts.” (1785)

They protest against the malversation of the whole of the moneys raised by additional taxes as a Famine Insurance fund to other purposes.
— Rudyard Kipling, The Enlightenments of Agett, M. P.

Destitute of the lawful means of supporting his rank, his dignity presents a motive for malversation, and his power furnishes the means.
— Jeremy Bentham, The Rationale of Reward

The odium lies in the malversation of the real, the faking of the event and the malversation of the war.
— Jean Baudrillard, The Gulf War did not take place

Etymology: Mal is, of course, Latin for “bad” (think malicious), and versari is Latin for “to behave” (think “versatile”)