Report laments ploy (4)
I believe the answer is:
ruse
'ploy' is the definition.
(I've seen this before)
'report laments' is the wordplay.
'report' shows a homophone (sound like).
'laments' becomes 'rues' (I've seen this in another clue).
'rues' is a homophone of 'RUSE'.
(Other definitions for ruse that I've seen before include "Deceptive tactic" , "Clever stratagem or plan" , "Sure to be a trick" , "Sure its a strange deception" , "Deceptive device" .)