Source : Webster's Revised Unabridged Dictionary (1913)

Cutpurse \Cut"purse`\ (k[u^]t"p[^u]rs`), n.
   One who cuts purses for the sake of stealing them or their
   contents (an act common when men wore purses fastened by a
   string to their girdles); one who steals from the person; a
   pickpocket

         To have an open ear, a quick eye, and a nimble hand, is
         necessary for a cutpurse.                --Shak.

Source : WordNet®

cutpurse
     n : a thief who steals from the pockets or purses of others in
         public places [syn: {pickpocket}, {dip}]