Fraught with peril (5)
I believe the answer is:
risky
'fraught with peril' is the definition.
(I've seen this in another clue)
This is the entire clue.
(Other definitions for risky that I've seen before include "Having possibility of danger or loss" , "Chancy" , "not playing safe" , "Unsafe" , "Involving a chance of danger" .)