1. Close and strict supervision or monitoring of activities, often involving detailed review and control
The government implemented heavy oversight of the banking sector after the financial crisis.
O governo implementou uma supervisão rigorosa do setor bancário após a crise financeira.
2. A significant failure to notice or manage something important
The missing budget line was a heavy oversight by the accounting department.
A linha orçamentária faltante foi uma falha grave do departamento de contabilidade.