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Taking into account the recent advances in wireless communications with the deployment of various technologies that cover the same areas, secure interworking in multi-operator, multi-technology wireless communication environments is a critical issue that should be considered by all operators. This is primarily linked with risk analysis and it is the process that each operator should go through to determine the risk exposure. It indicates mainly the possibility of a damage that could happen either by intruders or by misuse of the resources. The goal of risk analysis is to determine the probability of potential risks and estimate the overall damage at an annual basis in order to define new policies and measures. This is the main contribution of this work.