The most common and most likely answer to this crossword clue is the 7 letter word LEASING
I've seen this crossword clue in The Daily Telegraph
L
E
A
S
I
N
G
Buddy explains!

The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does LEASING mean?
LEASING noun- A lie; the act of lying, falsehood.
- (chiefly dialectal) To gather.
- (chiefly dialectal) To pick, select, pick out; to pick up.
- (chiefly dialectal) To glean.
- (chiefly dialectal) To glean, gather up leavings.
- To tell lies; tell lies about; slander; calumniate.
- To release; let go; unloose.
- To operate or live in some property or land through purchasing a long-term contract (or leasehold) from the owner (or freeholder).
- To take or hold by lease.
- To grant a lease; to let or rent.
- Present participle of lease