The development of 5G presents regulators with several security-related challenges. Implementation of a security framework that would be capable of addressing all concerns of users and, by extension, of governments, is one of them. In March 2019, the European Commission presented a plan to achieve, throughout the European Union, a concerted response to security concerns related to 5G networks. This article presents one of the national responses that consists of assessing the risk pursuant to the EN-ISO/IEC 27005 standard and introducing relevant risk mitigation measures. The article focuses on the introduction of a methodical approach to developing 5G security regulations based on an analysis of different risk scenarios. It also strives to propose the applicable government-level mitigation measures aiming to counteract any 5G security threats should these be encountered. When implemented efficiently, the said mitigation measures guarantee that the new networks will be designed in a proper manner. They will also impact cybersecurity of all networks over the coming years.