The first release of the 5G protocol specifications, 3rd Generation Partnership Project (3GPP) Release 15, were published in December 2017 and the first 5G protocol security specifications in March 2018. As one of the technology cornerstones for Vehicle-to-Vehicle (V2X), Vehicle-to-Everything (V2E) systems and other critical systems, 5G defines some strict communication goals, such as massive device connectivity, sub-10ms latency and ultra high bit-rate. Likewise, given the firm security requirements of certain critical applications expected to be deployed on this new cellular communications standard, 5G defines important security goals. As such, 5G networks are intended to address known protocol vulnerabilities present in both legacy GSM (Global System for Mobile Communications) networks as well as current LTE (Long Term Evolution) mobile systems. This manuscript presents a summary and analysis of the current state of affairs in 5G protocol security, discussing the main areas that should still be improved further before 5G systems go live. Although the 5G security standard documents were released just a year ago, there is a number of research papers detailing security vulnerabilities, which are summarized in this manuscript as well.