Perusing the terms of service my phone is requiring me to agree to after the update.

Under the section about how they safeguard my data, it reads:

We take data protection seriously. We have put in place physical and technical safeguards to keep the information we collect secure. We also take appropriate measures, in compliance with applicable law, to ensure that the personal information collected by third parties remains secure. However, please note that although we take reasonable steps to protect your information, no website, Internet transmission, computer system, or wireless connection is completely secure.

That's a very verbose way to say "trust us, bro."