Error at OPEN '&' (check file)

What causes this issue?

An error occurred when an inbound file was opened with 'OPEN DATASET'.

How to fix this error?

Check the following file:
&v1&
Operating system confirmation:
&v2&

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.