E.g. George taken in by identical swindle (4,4)
I believe the answer is:
skin game
'swindle' is the definition.
(I've seen this before)
'e g george taken in by identical' is the wordplay.
'e g' becomes 'kin' (I can't justify this - if you can you should give a lot more credence to this answer).
'george' becomes 'g'.
'taken in by' is an insertion indicator (back).
'identical' becomes 'same' (similar in meaning).
'kin'+'g'='king'
'king' placed inside 'same' is 'SKIN-GAME'.
Can you help me to learn more?
(Other definitions for skin game that I've seen before include "trick" , "The Sting" , "swindle" , "scam" .)