from The American Heritage® Dictionary of the English Language, 4th Edition
- transitive v. To report (income or crime statistics, for example) as being less than actually is the case.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- v. To report a number falsely, making it smaller than it ought to be, especially to do so intentionally
- v. As a group, to report something less frequently than it actually occurs
under- + report. (Wiktionary)