Chubb survey reported that 52 percent of the Hong Kong small and medium enterprises believe that they are not aware of all the cyber threats they face and 71 percent of the respondents said they have faced cyber attack or cyber error. Despite Hong Kong was the first country in Asia to enact a comprehensive personal data privacy legation, Hong Kong has not introduced stand-alone cybercrime or cybersecurity legislation compared to several other Asian countries have done, Chubb report said. Andrew Taylor, cyber underwriting manager of Asia Pacific said that numerous small business compromises and ransomware events that are threatening the cash flow of SMEs.
More than half of Hong Kong 's small and medium - sized enterprises ( SMEs ) are ill - equipped for cyber threats , while more than two - thirds of SMEs have suffered a cyber attack or disruption , according to a report by Chubb . Several Asian countries have enacted cybersecurity legislation , but Hong Kong has failed to do so , the insurer said .