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1.
The English form of shufti (arabic for look / take a look)

Originally RAF but later Army also, shufty or shufti became taking a look for possible dangers.
Back home, it was used simply for having a quick look (Am. checking out)
"Whilst researching ships I came across an interesting site and took a quick shufty"

"Take a shufty at this URL" (Am. Check it out)
by Gari July 30, 2005
 
2.
To have a glance or to look at.
"Be sure to have a good shufty at the pre-nuptial agreement you're signing."
by Alexandra July 30, 2004
 
3.
To masturbate, (usually a male wanking).

A person who has a "shufty" is known as a "shufter".
Dude had a quick shufty in the bushes while drooling over G's ass.
by Scorpio31 March 05, 2008