Not all cloud providers are created equally
All of you naysayers of the cloud amuse me.
Yes, a cloud implementation is renting computing in somebody else’s data centre, but that doesn’t mean it is more prone to breaches etc than your own data centre, it just means that you need to manage that risk somewhere else.
For example, you could go with a cloud based provider that will implement single tenant systems (just your stuff on the databases you have rented) rather than multi-tenant such as the Salesforce model