A ransomware attack affecting some of the U.K.’s largest corporations has highlighted once again how exposed organizations can be if the levels of cybersecurity used by their third parties are not as strong as expected.

Russian cyber hacking group Clop admitted it hacked into a piece of software called MOVEit that businesses use to transfer data files securely both internally and externally.

Neil Hodge is a freelance business journalist and photographer based in Nottingham, United Kingdom. He writes on insurance and risk management, corporate governance, internal audit, compliance, and legal...