November 2025 Copyright © 2025 GSMA The GSMA is a global organisation unifying the mobileecosystem to discover, develop and deliver innovationfoundational to positive business environments and societalchange. Our vision is to unlock the full power of connectivityso that people, industry and society thrive. Representingmobile operators and organisations across the mobileecosystem and adjacent industries, the GSMA delivers for itsmembers across three broad pillars: Connectivity for Good,Industry Services and Solutions, and Outreach. This activityincludes advancing policy, tackling today’s biggest societalchallenges, underpinning the technology and interoperabilitythat make mobile work, and providing the world’s largestplatform to convene the mobile ecosystem at the MWC andM360 series of events. We invite you to find out more atgsma.com Frontier Economics is a leading international specialisteconomics consultancy. Frontier uses economic principlesto provide clear advice and analysis on complex mattersto many of the world’s largest companies, leading sectorregulators, government departments and internationalorganisations. With over 350+ staff in Dublin, Amsterdam,Berlin, Brussels, Cologne, London, Madrid, Paris and Prague,Frontier Economics Limited (www.frontier-economics.com) isone of the largest and most influential economic consultingfirms in Europe. Our practitioners are renowned expertsacross a full range of industries, including digital markets,telecommunications, energy, transport, post, water and health,having advised both public and private sector stakeholderson the design and implementation of best practice regulatorypolicies, taking into account the likely impact of these policieson the behaviour of stakeholders and hence on markets moregenerally. Frontier works closely with its sister and legallyseparate company, Frontier Economics Australia. Contents 1Executive summary22Introduction63Mobile operators invest significant amounts to protect their networks93.1The volume and cost of cyber threats is large and rising103.2Mobile networks have a crucial role with respect to cybersecurity103.3Mobile operators face growing threats on an ongoing basis103.4Operators’ cybersecurity measuresare context-specific124How cybersecurity policy and regulation can support the mobile sector134.1Cybersecurity policy involves a number of distinct activities144.2Enacting policy through a complexweb of regulation, licences and standards154.3Implementing cybersecurity is costly174.4Networksecurityinvolves many types of investment174.5Operators increasingly invest in resilience and prevention194.6Regulation should be designed toenhance security benefits while avoidingunnecessary costs195Effective policy strengthens cybersecurity, poorly designed policy createsavoidable costs215.1Good and poor practice in the application of cybersecurity policy215.2Frameworks should be internally coherent and consistent235.3International standards and frameworks can supportglobaland cross-sectorcollaboration265.4Obligations should be outcome-oriented and risk-based285.5The regulatory culture should promote collaboration and trust315.6Regulation should take a proactive approach to managing cyber threats335.7Regulatory capacity should be strengthened to ensure effective implementation346Conclusions and recommendations36Annex - List of best practice examples38 01.Executive summary Mobile connectivity and cybersecurity in a digital world Mobile connectivity is central to modern economiesand societies. It enables communication, accessto information and public services, and economicparticipation. As digital dependency increases, sodoes exposure to cyber threats, posing seriousrisks not only for individuals, businesses, andgovernments, but for society as a whole. Ensuringsafe and secure mobile networks is therefore notmerely a technical concern but a requirement fortrust and safety in a digitally connected world. contrast, poorly designed or misaligned frameworkscan impose disproportionate costs, complicateoperations, and even increase vulnerabilities. Fragmented or poorly designed regulatoryframeworks may divert resources away from realsecurity improvements, delay incident response,and stifle innovation in protective technologies. Thisultimately threatens not just mobile networks, but thesafety and reliability of essential digital services. This report, commissioned by the GSMA, exploreshow cybersecurity regulation shapes the ability ofmobile operators to defend against evolving threats.It highlights the costs, challenges, and opportunitiesthat regulation creates and sets out how well-designed policies can strengthen resilience whilepoor ones increase risk. The fast-changing nature of cyber threats is drivingup the costs and complexity for mobile operators toimplement effective cybersecurity monitoring andprotection, making the role of regulation increasinglyimportant. Well-designed regulation supports themin managing risks proportionate