Cell phones with cameras and data transfer capabilities pose a risk to which security goal?

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Personal security--
The answer is subjective and depends on what the person is trying to feel secure from. You can be tracked and you can bet I believe our government is not beyond using this information for nefarious ways. Used to be they needed a warrant, but not anymore, all under the names Homeland security, terrorism, and the Patriot act.
I have reason not to trust the feds. 12 months investigation based on 2 anonymous letters. See, that is all they need for proof to track you. In my case, I do not keep up with all the neat smart phone technology just for that reason.

You may say, you have nothing to hide. I will not get into all the capabilities that are current or planned in the future technology.