In early April, 1912, many people believed that the Titanic was unsinkable. On April 15, 1912, the Titanic sank and by late April, 1912, as the news spread, people no longer believed that the Titanic was unsinkable.

I think that the story of the Titanic and the mistaken belief that it was unsinkable can teach us a valuable lesson when it comes to fraud. Most enterprises with mature fraud programs know that they can always improve.