The document discusses vulnerabilities in cellular networks, including base station (BTS) vulnerabilities and SS7 vulnerabilities. BTS vulnerabilities allow attackers to intercept all voice, SMS, and data traffic flowing through a false base station. SS7 vulnerabilities allow attackers to track subscribers, intercept SMS messages including two-factor authentication codes, and enable fraud by rerouting subscriber communications. Both vulnerabilities are difficult to detect due to the large number of operators and interconnects in global cellular networks. The document recommends deploying baseband firewalls, shifting away from SMS-based authentication, and limiting exposure of executive mobile devices on sensitive trips to help mitigate risks from these cellular network vulnerabilities.