How secure would the cloud services be?

Question

Hi all
From what I heard, some organizations would use cloud services for non-sensitive data to shared across office to reduce operational cost.
However even with TLS, file encryption and other security technologies, some government sector or organizations would still host their own file server / VPN for top secret or confidential information. Why is that so?
Would there possibly be data leaked out from cloud services? (e.g. cloud vendor's employee sabotage or attacked) I am interested to know about your opinion about this.
Have a nice day! 
Peter
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Answer 1

Remember too the requirements for data security that are implied by securities laws in many countries. The accidental release of, say, financial data prior to any public release creates a disclosure requirement with, in the US, the SEC. That could be extremely embarrassing and even create abnormal stock tradeing in a company's stock. I recall an incident some 10 or 15 years ago where the CEO of a major publically traded company had his laptop stolen from his hotel room. That mandated public disclosure and SEC filings, and made the front page of the Wall Street Journal. Embarrassing indeed, and potentially dangerous as well.
Consider the increased public relations implications if that type of data were stored on a public cloud service rather than on a private server, either using a private cloud, VPN or both.  You might expect significant questions to be raised if the compromised data were stored on a public cloud.
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