I would agree with you if we could be sure also firmwares are as secure as operating system and apps running on it.
Modem and Wifi firmware are closed and nobody can tell if they contains bugs or malware (but reading about NSA and so on I suppose they are not very safe…) so I have to accept the risk of data leaking even with the most up-to-date operating system and/or applications.
I normally use my phone for non-critical data use but if I had to, I think I would not use any phone 
I know there are several projects aiming at open firmwares (like OsmocomBB for GSM) but they work only on limited hardware and I don’t know if this could be a good start point for the FP2, given that normally SoC embed different critical devices (Modem, Bluetooth, Wifi and GPS) and the number of devices product by Fairphone.
OpenMoko was a good tentative idea but it failed due to lack of numbers and software support.
Bye! 
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