Hong Kong business leaders lost 7.1 percent of their annual revenue on average due to fraud in the past year, representing a total of HK$92 billion, according to TransUnion's survey.
The study investigated business leaders across six markets - Hong Kong, Canada, India, the Philippines, the United Kingdom and the United States.
The survey found that the top three predominant causes of fraud losses identified by Hong Kong businesses were third-party fraud, account takeover, and scam or authorised fraud, with proportions of 26 percent, 22 percent, and 18 percent, respectively.
Only 56 percent of Hong Kong business leaders feel extremely or very prepared to identify fraud attacks involving multiple channels, showing the lowest confidence level among six markets in the study.
Regarding consumers, TransUnion's latest top fraud trends report revealed that 2.7 percent of all attempted digital transactions where the consumer was in Hong Kong were suspected to be digital fraud in the first half of 2025, lower than the global rate of 3.8 percent.
The top fraud trends report researched digital fraud and data breaches from 24 specific countries and regions, including Hong Kong, India, Canada, the United Kingdom, the United States, and so on.
Retail recorded the highest suspected digital fraud rate of 19.4 percent among industries analysed for the city's transactions, a sharp surge of 155 percent year-on-year, marking the city's retail sector the highest suspected digital fraud rate and growth among all markets surveyed.
The report found that fraudsters mainly targeted account logins for Hong Kong consumers, with the suspected digital fraud rate of 10.8 percent, more than double the global average of 4.3 percent.
In contrast, the suspected digital fraud rate during account creation (3.8 percent) and financial transactions (0.3 percent) from Hong Kong remained below the global average, possibly reflecting the city’s stronger onboarding controls and robust payment security, the report said.
