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to impose a financial penalty, sometimes used of a finding of expenses or costs against a party in a litigation.
Collins Dictionary of Law © W.J. Stewart, 2006

MULCT, punishment. A fine imposed on the conviction of an offence.

MULCT, commerce. An imposition laid on ships or goods by a company of trade, for the maintenance of consuls and the like. Obsolete.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
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In November 1999, on my first night as CPNP, I hit the ground running with my anti-kotong campaign and there was this CHPG (Constabulary Highway Patrol Group) team who shot it out with a team of SAF (Special Action Force) personnel whom I tasked to kickstart a relentless operation against mulcting policemen.
A police official said the communist rebels have been 'mulcting' the construction firm, demanding revolutionary taxes and 'protection money' so it can continue road construction.
For food sellers long victimized by a few mulcting cops, price freeze means 'presyong pulis' (police special offer), that is, free.
Recto said a global tourism campaign packaging the country as a destination where visitors could have fun were negated by the bad press "of mulcting taxi drivers and stolen luggage."
On Tuesday morning, the CITF also arrested six mulcting policemen and two civilians during an entrapment operation in Nueva Ecija.
Oliva said last October, they received a letter from LTO regional director Victor Emmanuel Caindec asking assistance to conduct an investigation on reported mulcting activities of some LTO enforcers in Bohol.
'And out on the streets, our citizens are subject to kotong (mulcting), threatened with arrest or harm, while the Chinese poachers who mistreat our fishermen are treated with kid gloves,' Pangilinan said.
The TDO will also entertain complaints of mulcting by erring traffic personnel, vowing to stamp out bad eggs in the ranks especially during the Yuletide Season.
"Honesty Teams were organised since 2006 purposely to conduct an intensive nationwide campaign against erring PNP personnel engaged in extortion or aACAykotong', aACAyhulidap' or apprehend and extort [operations], mulcting, bribery, and other forms of illegal activities," Sindac said.
'Clearly, this is the work of NPA, which has been mulcting the construction company,' Gonzales said.
A militant lawmaker, meanwhile, described the confiscation made by the Chinese Coast Guard of the catch by the Filipino fishermen at Panatag Shoal as 'kotong (mulcting).'