Deception from German woman with diamonds (5)
I believe the answer is:
fraud
'deception' is the definition.
(I know that Fraud is a type of deception)
'german woman with diamonds' is the wordplay.
'german woman' becomes 'frau' (I've seen this before).
'with' is a charade indicator (letters next to each other).
'diamonds' becomes 'd' (abbreviation in bridge say).
'frau'+'d'='FRAUD'
'from' acts as a link.
(Other definitions for fraud that I've seen before include "Fiddle" , "Cheat" , "act of deception" , "Swindle" , "Impostor" .)