In June, 2002, an internal audit discovered that US$3.8 billion had been 'misaccounted.' The US Securities and Exchange Commission launched an investigation into these matters on June 26, 2002 (See accounting scandals).
In August, 2002, an additional $3.3 billion in improper accounting since 1999 was announced.
In light of these accounting scandals, the company has changed its name to MCI.
In May, 2003, the company was given a no-bid contract[?] by the United States Department of Defense to build a cellular telephone network in Iraq. The deal has been criticized by competitors and others who cite the company's lack of experience in the area.  (http://seattlepi.nwsource.com/business/123016_worldcomiraq22)