Google has just released the latest security patch for Android, it's the July 2017 security patch and it's now available in the form of both an OTA and a full factory image. It's available for Nexus and Pixel devices right now, and manufacturers should beginning the rollout fairly soon. Once again, there are two security patches here. The first one is the July 1st patch and it's a partial patch. The July 5th patch is a full patch, with all of the vulnerabilities patched.
This security patch fixes up a number of vulnerabilities with the WiFi Driver, networking drivers, networking subcomponents and more. There are a ton of vulnerabilities fixed this time around, many of them are moderate or low impact, but there are a few that are high and critical. So it's obviously important that you install this security patch once it hits your device. Some of the more important vulnerabilities relate to the bootloader, and this only really relates to those with Qualcomm chipsets inside - which is still the majority of Android devices today. Google has worked with its partners on these vulnerabilities to get them fixed, especially those components that are closed source.
Google notes in its security bulletin that the devices getting this security patch include the Pixel, Pixel XL, Nexus 5X, Nexus 6, Nexus 6P, Nexus 9, Pixel C, and the Nexus Player. The OTA's and factory images are also up. Those that want to get the security patch onto their device as soon as possible but don't want to erase all of their data can simply sideload the OTA onto their device. Google provides instructions on how to do this. Those that don't mind losing their data can flash the entire factory image. Google also provides instructions on doing this, but be sure to backup all of your data, as everything will be erased. It'll be like starting over with a brand new smartphone. This will also take longer since the file is much, much larger than a simple OTA update. But you can find the OTA and factory image files from the links down below. The OTA should start rolling out later today.