Public and private entities worldwide need a global model for detecting and preventing fraud. This article identifies common elements of four global models from the countries of the United States, Australia, and the United Kingdom in order to establish a composite model that any entity large enough to segregate different business functions can use and smaller organizations can adapt the model to accommodate their individual circumstances. There are five primary objectives that any fraud prevention and control model should attempt to achieve: (1) prevention, (2) deterrence, (3) disruption, (4) identification, and (5) civil action/criminal prosecution. A composite model should consider fraud risk an integral part of an overall corporate risk management strategy, develop an ownership structure cascading down throughout the entity, introduce a fraud policy statement, introduce an ethics policy statement, actively promote ethics policy throughout the organization, establish a sound control environment, establish sound operational control procedures, introduce a fraud education, training, and awareness program, introduce fraud response plan, introduce a whistle-blowing policy, introduce a reporting hotline, constantly review all policies and procedures, constantly monitor adherence to controls and procedures, establish a "learn from experience group," and develop appropriate information and communication systems. An effective composite model will work for any entity and effective fraud management strategies will aid fraud prevention, act as a deterrent, increase the likelihood of disruption, aid the identification of high risk and problematic areas of business, and reduce the need for civil action or criminal prosecution.