Risk: High
Flash Player is installed on over 500 million mobile and desktop Internet-enabled devices and is used worldwide to view frame-based animations on a web browser. Vulnerabilities have been discovered that enable attackers to compromise a user's system by using a malicious SWF file to execute arbitrary code on the user's system.
Multiple versions are affected. Flash Player versions 8.0.22.0 and earlier, Breeze Meeting Add-In versions 5.1 and earlier, Shockwave Player versions 10.1.0.11 and earlier, Flash Debug Player versions 7.0.14.0 and earlier, Flash Professional 8 and Flash Basic and Flash MX 2004.
Updates are available at http://www.macromedia.com/devnet/security/security_zone/apsb06-03.html and installation of updates is recommended as a matter of urgency.