The phase_one_correct function in Libraw before 0.17.1 allows attackers to cause memory errors and possibly execute arbitrary code, related to memory object initialization.
http://www.libraw.org/news/libraw-0-17-1
http://seclists.org/fulldisclosure/2015/Nov/108
http://packetstormsecurity.com/files/134573/LibRaw-0.17-Overflow.html