When I first started using web based communication platforms like Twitter and Nexmo I was really surprised to learn that I could put anything in the from field when sending a text message. All I could think was that it was a weakness that was ripe for abuse.
I believe there was a case in Germany a few years back where a group of phishers had online banking login details for several hundred users but couldn't initiate transfers without entering a PIN sent to the account holders phone via SMS. So the phishers set up a fake telephone company so that they could issue SS7 commands and have the account holders phone's temporarily redirected to another number where the PIN could be intercepted.
I think there is a false assumption amongst many people that the telephone system is inherently secure. Stuff like the above and all the robo calls coming from false numbers should warn otherwise.