IPA: /ˈfɔːrfɪtʃər/
KK: /ˈfɔrˌfɪtʃər/
The act of losing something, usually money or property, as a penalty for not following rules or laws.
The company faced a forfeiture of its license due to repeated violations of safety regulations.
Forfeiture is formed from "for-" (meaning away or from) and "facere" (meaning to do or make). The term originally referred to the act of losing something as a consequence of failing to do something or breaking a law.
Think of losing something 'away' ('for-') because you didn't 'do' ('facere') what was required — that's why forfeiture means losing something as a penalty.