Affected Versions: VirtueMart Version 1.1.4 and all versions below.
Vulnerability Type: SQL Injection.
Problem Description: It's possible for an attacker with administrator permissions to manipulate or gain information from the database with a specially crafted URL.
Solution: An patch is available that contains new versions of the affected files: SecurityFix_vm114_012910.zip.
Follow the recommendations from the Joomla! Administrator's Security Checklist and the Security & Performance FAQ for Joomla!. This way you get basic security for your Store.
Keep notice of the VirtueMart Security Bulletins.