Why are ‘companies’ attractive to criminals?Group of answer choicesPerpetual successionExploit limited liabilityHide behind separate legal personalityCommonly used in business transactionsAllow names of owners & managers to be concealed

Perpetual Succession: Companies have an unlimited lifespan, which means they continue to exist even if the owners or managers change. This makes them attractive to criminals as they can use the company as a front for illegal activities over a long period of time.

Exploit Limited Liability: The concept of limited liability protects the personal assets of the company's owners. If a company is used for criminal activities and is subsequently sued or fined, the personal assets of the owners are not at risk. This makes companies an attractive vehicle for criminals.

Hide Behind Separate Legal Personality: A company is considered a separate legal entity from its owners. This means that it can own property, enter into contracts, and sue or be sued in its own name. Criminals can use this separate legal personality to hide their own identity and involvement in illegal activities.

Commonly Used in Business Transactions: Companies are commonly used in business transactions, which can make it easier for criminals to blend in and avoid suspicion. They can use the company to launder money, evade taxes, or commit other financial crimes.

Allow Names of Owners & Managers to be Concealed: In some jurisdictions, the names of the owners and managers of a company do not have to be publicly disclosed. This anonymity can be exploited by criminals to conceal their identity and involvement in illegal activities.