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Algeria's ownership gaps
A report by the Global Forum on Transparency and Exchange of Information found that Algeria has no mechanism to verify the accuracy of companies’ beneficial ownership data or keep it up to date. It also found that sanctions under the system had not been enforced by the time of the assessment, despite 86.4% of active companies having submitted their data. The report warned of risks involving 49,713 companies classified as inactive, which nonetheless retain their legal personality. The authorities had not confirmed that all of them held bank accounts that could provide information about their beneficial owners. The report rated Algeria “largely compliant” and recommended stronger oversight to ensure that accurate, adequate and up-to-date information is available.
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