Fraud linked around City on reflection (6)
I believe the answer is:
deceit
'fraud' is the definition.
(I've seen this in another clue)
'linked around city on reflection' is the wordplay.
'linked' becomes 'tied' (tying is a kind of linking).
'around' indicates putting letters inside.
'city' becomes 'EC' (the City of London postcode).
'on reflection' is a reversal indicator.
'tied' placed around 'ec' is 'tieced'.
'tieced' backwards is 'DECEIT'.
(Other definitions for deceit that I've seen before include "Hypocrisy" , "Lying" , "Fraud, cheating" , "Subterfuge" , "Fraud or duplicity" .)