Georges Bock, the former head of KPMG Luxembourg, was a guest on RTL Radio on Saturday afternoon.
Bock stated that people must be aware of how and into what they are investing their money, whether they go about it in a traditional way or by making use of new, digital ways to invest. Regarding this particular area, Bock also thinks that traditional banks should be more innovative.
Georges Bock himself is currently working on an app that aims at making investing into sustainable products more accessible to everyone. In his eyes, people can use their money to "influence things". However, Bock stated that he has acknowledged that there must be some sort of oversight to ensure that the investment actually leads to the results expected by the investor. Nevertheless, Bock stressed that he is convinced that the finance sector must be a part of the ecological transition.
Another topic of discussion was taxes. According to the former KPMG tax consultant, Luxembourg is not a tax haven, with Bock pointing out that neither the EU, nor the OECD make this claim. As a counter example, Bock cited the fact that the Luxembourgish state is making use of funds to generate profit, something which the French state is not doing, for instance. The Grand Duchy's appeal is based on "other factors", Bock continued, naming Luxembourg's long-standing know-how as one of them. While Bock acknowledged that there is a potential for money laundering "in some areas", he stressed that laws are being used to ensure that nothing "slips through the net" anymore.