Misses the alarm linking deceit to vice (4,2)

I believe the answer is:

lies in

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'misses the alarm' is the definition.
The definition and answer can be both to do with fundamental existence as well as being verbs in their -s form.
Maybe they are linked in a way I don't understand?

'linking deceit to vice' is the wordplay.
'linking' means one lot of letters go next to another.
'deceit' becomes 'lie' (I've seen this in other clues).
'to vice' becomes 'sin'.
'lie' next to 'sin' is 'LIES IN'.

Can you help me to learn more?

I've seen this clue in the Sydney Morning Herald.

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