How to translate 掩耳盗铃 into English?
Oxford, CC-CEDICT, A Chinese-English dictionary all use the following idiom to define 掩耳盗铃:

(to) bury one's head in the sand

The Free Dictionary defines it as:

bury one's head in the sand and hide one's head in the sand; have one's head in the sand
Fig. to ignore or hide from obvious signs of danger. (Alludes to an ostrich, which is believed incorrectly to hide its head in a hole in the ground when it sees danger.) Stop burying your head in the sand. Look at the statistics on smoking and cancer.

Like-wise Oxford Pocket also has:

(to) bury one's head in the sand like an ostrich

It's not a perfect match, per se, but it's a pretty close English idiom.