As nouns the difference between swindling and embezzlement
is that swindling
is the act by which somebody is swindled while embezzlement
is (legal|business) the fraudulent conversion of property from a property owner.
As a verb swindling
The act by which somebody is swindled.
* 1850 , Blackwood's Edinburgh Magazine (volume 68, page 226)
(legal, business) The fraudulent conversion of property from a property owner.