WBAC and ownership

[Tinkywinky112233]

Evening!
Can I ask why companies like WBAC etc insist on you owning the car and having the V5 in your name for a certain length of time? Surely regarding finance and right to sell this is easily established- any answers gratefully received!
Thanks

[av185]

Largely for fraud prevention.

[Pica-Pica]

Plus money-laundering.