Adobe has urged users to install an update to protect themselves from hackers.
The announcement came as reports suggested cybercriminals had worked out a way to hijack the software.
A new version of the multimedia player has been made available for download for Windows, Mac and Linux computers.
Independent security consultant Alan Woodward said: "Adobe does seem to have an unfortunate history of people finding security flaws with Flash that require updates.
"What Adobe seem to have done in this case is put out a warning, but it has not given as much information as other firms would normally do when issuing such a security advisory.
"That might be them trying to avoid giving the hackers too much information whilst still telling people there is a problem."
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