They have found out, the monster of loch ness was actually a swimming elephant.
http://www.dancewithshadows.com/society/images/loch-ness-monster-1.jpg (picture of swimming elephant)
http://z.about.com/d/paranormal/1/0/3/B/loch_ness_1_lg.jpg (the original photograph, you can clearly see the head and the trunk here)
http://www.unexplainedstuff.com/images/geuu_03_img0546.jpg (this is obviously an elephants trunk)
I feel a bit sad now really, all those years I had been secretly hoping nessie was actually the last surviving brachiosaurus, which somehow had adapted itself to life in the water to hide from the humans.