The thing about privateers, sure they operate under a letter of marque type arrangement, such that they can do the bidding of a nation while maintaining plausible deniability... like anonymous frigates raiding along the spanish main to capture pillage from the new world being returned back to europe.. but that give a cut to the UK.

But they can also die by the same sword they wield. And the powers that back them must look the other way and pretend not to care.. after all, they were just pirates!

History is illustrative.