Mulcted means punished or fined. In Proverbs 22:3 it describes suffering the consequences of failing to recognize danger.
Definition
Mulcted means punished or fined, or made to suffer a penalty for an action or failure. It is an older English expression.
Biblical Usage
In the marginal rendering of Proverbs 22:3, those who fail to recognize danger and proceed without caution are said to be “mulcted,” or to suffer for it.
Historical Bible Dictionaries
International Standard Bible Encyclopedia (ISBE)
<p>mulk'-ted (`anash, "to be punished," "fined"): "The simple pass on, and are mulcted" (Pr 22:3 the Revised Version margin, the Revised Version (British and American) "suffer for it," the King James Version "are punished").</p>