Apple is working on fixing yet another iPhone problem, this time regarding a security fault that allows virtually anyone to access the phone, even while password protected. The security flaw was first reported by a user on the Macrumors forum, and later confirmed by Apple in an e-mail.

The user, calling himself “greenmymac,” explained that it only takes a few simple steps to gain full access to e-mail, text messaging and make phone calls from what was supposed to be a “locked” iPhone, and it appears that this are possisble for versions 2.0.2 and 2.0.1: first of all, set the iPhone to use a password code, and have contacts marked as Favorites with links, phone numbers and so on in address book entry.

By simply using the emergency call keypad from the passcode entry screen, and double-tapping the home button and tapping the blue arrow next to contact’s name, anyone can gain full access to what should be a “locked” iPhone.

“The minor iPhone security issue which surfaced this week is fixed in a software update which will be released in September,” Apple representative Jennifer Bowcock told Macworld. In the meantime, iPhone owners are advised to set the iPhone so that double-clicking the home button will take them directly to the home screen, which should be the unlock screen if the password protection is on.

Well, Apple may not appear to be that concerned, but looking at some of the reactions on the above mentioned forum, the users didn’t seem to happy about it, calling it a “huge flaw.” Others on the other hand said the problem is in fact not that big, and could be solved by simply changing the double-tap shortcut to something else than Favorites.