Cloud-stored data is equally secure as locally-stored; in fact, Office 365 cloud storage has more redundancy. So are there still risks with cloud storage?
Answer is yes, but it’s how we define “risk.” While Office 365 replicates data simultaneously across multiple servers, it can only replicate what it sees. And while recoverable folders may hold previously deleted items essentially forever, finding them may be a challenge. The “risk” is more about shared risks. The Office 365 cloud is a “one-size-fits-all” strategy, and many customers want to have multiple sources to secure data.
The answer, then, is backup or cloud storage on a second platform, such as a private cloud, or keeping backup copies on premises.