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rort /rÉ”:t/ (verb, countable noun)  

Usage note: This is the usual term used by all speakers.

1. (verb) To abuse or dishonestly manipulate a system.

Example: There's always people out to rort any system and any program where Governments are handing out money.  (http://pmrudd.archive.dpmc.gov.au/taxonomy/term/53)  

2. (countable noun) Abuse or dishonest use of a system.

Example: We now have the Dubai expenses rort with yet another minister resigining and Keneally herself is subject to failure to disclose travel benefits. (http://www.theage.com.au/opinion/politics/when-governments-go-bad-its-only-fair-to-give-the-people-a-voice-20100610-y0cy.html?comments=96)  

A man secretly rorting the system

(photo by camrocker)