There are 2 words in the English version for a reason - Privacy and Security. Privacy is about your personal info, profile photos, who can call you or add you to groups, who can see your phone number and whom you blacklist. Security is about encryption, two-step verification, deleting your account if you are not active, deleting your payment details etc. So there are 2 words so 2 words need to be translated. And besides in this section there are subsections dedicated to privacy and security which makes it even more necessary to translate both words.

This settings option is translated not completely at the moment because it allows you to control your privacy settings AND security for your account and app. This is the place to set up a passcode lock or two-step verification and other security features.

The phrase in English has two words whereas in Russian translation contains only one word, so to make it equal and more understandable, it is better to use this translation.