The word "bilk" refers to a form of fraudulent or dishonest practice, typically involving deceit or trickery. It can also mean a small amount of money or goods obtained through such means. In a broader sense, "bilking" can describe any act of swindling or exploiting someone's trust for personal gain.
In legal and financial contexts, "bilk" might specifically refer to the act of engaging in fraudulent transactions, such as overcharging for services, misrepresenting facts, or using false pretenses to obtain money or property.