The estimated monetary loss include variables such as forensic investigation, investments in technology and brand recovery costs, said Tomer Teller, security evangelist and researcher at Check Point.

According to vendor, it surveyed 2,618 c-level executives and IT security administrators in the US, United Kingdom, Germany, Hong Kong, and Brazil for the report. The survey sample represents organizations of all sizes and across multiple industries, including financial, industrial, defense, retail, healthcare and education, the vendor added.

The report says that the majority of Hong Kong respondents indicated financial fraud (68%) as the cybercriminal's primary motivation, followed by the intent to disrupt business operations (35%) and customer data theft (32%).

About 7% of security attacks were estimated to have been driven by political or ideological agendas, Check Point said.

Cybercrime comes in all shapes and forms. About 45% of Hong Kong respondents said DoS attacks were the most serious security cybercrimes experienced in the last two years, followed SQL Injections (39%) and web-based malware (35%), according to Check Point.