To put it simply the way iOS handles your SMS means that an individual can maniuplate the ‘reply-to’ number so that it appears to be something that it is not.
Therefore, someone who wanted to gain access of your financial details could send out a text, pretending to be your bank and you would not know any better.
However, with the vulnerability being exposed in the last few weeks Apple have tackled the problem swiftly. Even though they placed most of the blame upon the technology the SMS.
Even though SMS is not entirely solid those with iPhones should be weary of suspicious text messages and hopefully Apple will solve this problem sooner rather than later.