The need for security on your website will vary depending on what content your website will contain as a website that is an E-commerce site would require much more security than a Wikipedia page about the Kingdom of Scotland. However a level of security would still be required in the Wikipedia example as the website itself contains a lot of information about both its users and the different subjects that Wikipedia covers ranging in seriousness and length. In fact an example of a flaw in their platform is where since the platform requires an account to be made in order for a user to edit any of the pages it has allowed misinformation to spread like rapid fire, unfortunately an issue like this can’t be entirely fixed since the website itself is such an open platform.
The need for security doesn’t just come form the desire to protect all of the information that is stored within a website (although it is a valid reason), it also comes from the need to prevent the current hacking scene from spreading as according to WebArxSecurity an estimated 30,000 websites get hacked every day showing that the use of security is more crucial than ever. Along with this is the cost of fixing a website that is hacked since even the most expensive providers for website security are still more cheap when compared to the possible costs that would come with attempting to recover a website, as the cost that comes with undoing a hack can vary drastically depending on the type either way the costs of initial protection is of far greater value than wasting more money trying to fix a problem that shouldn’t of happened.
An example of a crucial mistake in security as with PlayStation’s 2011 data breach, as although it wasn’t a website instead it was a service the level of setbacks was still significant to the point where if it happened to a similar service like an online marketplace the consequences would be severe. To further drive home my point/comparison is some small segments of information about the end result of Sony’s data breach, firstly to total cost of the whole breach was an estimated $171 million (£132 million, ¥14 billion at the time). Secondly it compromised the personal identifiable information of 77 million PSN accounts with it taking down the service for 23 days total. If this was a website in the same situation with the ever advancing lethality of harmful software out there.
Along with a loss of data personal to both the consumer and the company, there is also the loss of respect towards the company/brand that has been effected. For example there was a data breach that had occurred with eBay in May of 2014 where it was reported that all of the personal information (Bank details, purchase history, names, D.O.B) for over 145 million customers was collected by an unknown party which targeted the auction site in a discrete cyberattack as to gain information about their users. The result of the attack allowed for the intruders to have access to all of eBay’s information databases for an estimated 229 days, the fortunate thing is that eBay themselves immediately reported the issue as soon as it was discovered that customers were affected also. However despite their attempts to war the general populous they still suffered a significant decrease in users for two months (May to July). Surprisingly they did not become hindered financially as during that time period for their end year result it was reported that they saw a 13% increase in revenue for that month, as well as a 6% increase to the total earnings over the previous few years.