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Citi releases iPhone banking app security fix

Flaw in mobile banking application mistakenly saved customer account data on iPhone.

Citigroup Inc. released an update for its U.S. Citi Mobile iPhone banking application after discovering that the app was inadvertently saving account information in a hidden file on customers' iPhones.

The security flaw may also have saved information on customers' computers if they were synchronizing their iPhone with their computer via iTunes, New York-based Citi said in a statement.

The update of Citi's iPhone banking app fixes the problem and deletes any data that may have been saved to a customer's iPhone or computer, the company said. Citi is notifying customers who downloaded the application about the update.

"We have no reason to believe that our customers' personal information has been accessed or used inappropriately by anyone, i.e., there has been no data breach," Citi said.

Only a small number of customers were affected and the information mistakenly saved was basic account and transaction data, according to the company.

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