Despite a ready embrace of the mobile-first approach to technology, businesses and consumers on the mainland have emerged as major targets of cybercrime.

"Cyberattacks in the mainland have grown considerably over the past 12 months, with the growth in attacks outpacing the growth in transactions," said Vanita Pandey, vice-president of product marketing and strategy at ThreatMetrix, a US-based security technology company.

As data from ThreatMetrix showed, the mainland saw a 50 percent surge in cyberattacks year-on-year in the second quarter of 2017.