ReadWriteEnterprise is reporting that:

Content stored on an iPhone 3GS with passcode protection can be accessed without the passcode simply by attaching the device to a computer running the latest version of Ubuntu or a Windows or OSX system running off the shelf software such as iPhone Explorer. This flaw was discovered by Bernd Marienfeld, an information security professional and blogger, last week. Recently, the enterprise has seen a steep increase in the adoption of the iPhone and iPad. But Apple will need to aggressively address security concerns such as these in order to gain and hold market share.

Read the whole article here.