Lookout has announced that its App Genome Project has already examined 300,000 Android and iPhone apps.

"Lookout's researchers have uncovered a number of issues with the software that millions of people rely on either in the operating systems used in the phones or in apps found on the Android and iPhone marketplaces," writes CNET News' Elinor Mills.

"For instance, the company said it found a new vulnerability called Mobile Data Leakage that occurs when developers inadvertently expose sensitive data in application logs in a way that makes that data accessible by other apps," Mills writes.

Click here to read the CNET News article.