Dangerous fly in action that sets everyone in panic (6)

I believe the answer is:
'dangerous fly' is the definition.
'tsetse' can be an answer for 'fly' (tsetse is a kind of fly). I'm not certain of the 'dangerous' bit.
'action that sets everyone in panic' is the wordplay.
'TSETSE' is hidden within the letters.
However, I am not sure how this is indicated.
'in' is the link.
Can you help me to learn more?
(Other definitions for tsetse that I've seen before include "bloodsucker", "Disease-carrying fly", "cause of sleepiness?", "fly across Africa", "flies".)
I've seen this clue in Sydney Morning Herald.