A rather serious security flaw in the iPhone’s SMS messaging system has been discovered and revealed by well-known security researcher and jailbreak extraordinaire ‘pod2g’. Security flaw affecting all iPhones that he says could facilitate hackers or thieves to access your personal information.
The researcher claims that the flaw has actually been present in Apple’s iPhone software ever since the
Source: Serious Security Flaw : iPhone Bug Allows SMS Spoofing