Hong Kong businesses reported experiencing the lowest number of cyber incidents in APAC, with 43% of organizations having been affected, compared to the average of 59%.
Organizations are most concerned about data loss (68%), which is well-founded, with 40% of the most recent cyberattacks reportedly causing data loss. Organizations were also concerned about business interruption (54%) and reputational damage (57%). It’s also important to note that while 28% of organizations were concerned with regulatory fines or sanctions, zero respondents reported having suffered regulatory fines following a cyber incident. This is likely to change as Hong Kong’s Privacy Commissioner for Personal Data (PCPD) steps up their enforcement of data protection laws.
More than half of the organizations surveyed in Hong Kong have implemented various measures to address cyber security threats. Similar to Australia, buying hardware and software security tools (74%), training (70%) and monitoring (70%) are the top three choices for Hong Kong.
The APAC State of Incident Report 2022 surveyed 700 information security executives across Australia, Japan, Philippines, Hong Kong, Singapore, Indonesia, and Malaysia. To understand more of the efforts and investment priorities to minimize the cyber security threats of the businesses, please download the full report here.
Download the Report