In German there is a term Beutelschneiderei which in all dictionaries I have currently access to is being translated as "daylight robbery". However, Beutelschneiderei in German is a very picturesque word (evoking mediaeval sceneries), and my impression is that "daylight robbery" is more of a sober description of the activity.
Here is the question: What better terms could I use in an English text to render German Beutelschneiderei.
as a term for the person involved in that business; cut-purse being an exact translation of Beutelschneider, which is the person; whereas Beutelschneiderei is the activity, or the trade, so perhaps something like
Note that the term Beutelschneiderei does not only describe the occupation of a person concretely cutting with a knife or scissors people's purses off their belt. It can be used also metaphorically for any fraudulent activity aiming at taking money from people without returning a due service. For example "Trump University" could in German quite correctly be refered to as Beutelschneiderei. It is this metaphorical use that I am after, not so much the original physical activity of pursecutting.
Note also that Beutelschneiderei is not a legal term. In legal terms, a cut-purse would be prosecuted for theft (Diebstahl) or robbery (Raub), because these terms are defined by penal law.
I am sure there are nice words or idioms in English, given for example the rich 19th century literature describing life in the poorer parts of society.
A concise version of this question would be: What (ideally picturesque, possibly slightly ironic) expressions are there to describe fraud?
Having had now access to one more dictionary, I can contribute to the list (that meanwhile has formed thanks to contributors):
... as forum members have posted quite a number of beautiful and interesting answers, and I see now that the semantic field is pretty broad, with all kinds of variables in it, here is the actual context where I want to use the expression: Speaking about various new forms of teaching and learning, I have here somebody claiming that "Providing a MOOC (Massive Open Online Course) to learn leadership would simply be [your idiom for Beutelschneiderei]".