Concerns over security risks are rising in tandem with escalating investments in fintech and digital banking adoption in the Asia - Pacific region . Although the HKMA said that none of the cases reported resulted in any fund transfers to unregistered third parties (thanks to a double authentication process), there were nine cases that resulted in financial losses of HK$1.56 million. Around 84 % of financial firms in Asia now count cyber threats as their top security risk , however , only 10 % have a cyber incident response plan in place . Hong Kong and China increased investments in fintech ventures , which stood at $ 9.62bn at 31 July , more than twice the $ 4.26bn invested in the region in 2015 , according to Accenture ’s analysis of CB Insights data . Meanwhile , PwC ’s Global Economic Crime Survey 2016 predicts 1.7 billion consumers in the region will be using digital banking by 2020 .
Concerns over security risks are rising in tandem with escalating investments in fintech and digital banking adoption in the Asia - Pacific region . Around 84 % of financial firms in Asia now count cyber threats as their top security risk , however , only 10 % have a cyber incident response plan in place . Hong Kong and China increased investments in fintech ventures , which stood at $ 9.62bn at 31 July , more than twice the $ 4.26bn invested in the region in 2015 , according to Accenture ’s analysis of CB Insights data . Meanwhile , PwC ’s Global Economic Crime Survey 2016 predicts 1.7 billion consumers in the region will be using digital banking by 2020 .