If you haven’t updated your iPhone’s Citibank App to last Monday, July 19th’s release, The Wall Street Journal just got solid info that recommends you should. It seems theres a security flaw in the last version that saves your personal info like bank account numbers and credit card numbers to a file within the iPhone and the update brings a bug fix that ensures no data is stored on your device.

Citigroup Inc. told its U.S. mobile banking customers they should upgrade to a new application designed for Apple Inc.’s iPhone after the bank’s original version was found to have a security flaw.

In an incident that highlights the growing security challenges around wireless apps, Citi said its iPhone app accidentally saved personal account information in a hidden file on users’ iPhones. Information that may have been stored includes their account numbers, bill payments and security access codes.

No real security breaches have yet been confirmed, though the risk of not updating is that this information gets synced to your computer, and that’s where things get tricky with PC malware. Let’s hope this case is only limited to Citibanks App and that it’s not a common issue other companies will notice on the weeks to come. Here’s the iTunes link if you’re interested.

(Via: WSJ)