As it is more and more clear, the cloud services are the next significant separation between the classical IT environment and the new form of delivering services and operational resources, through unlimited scalability as well as flexibility. The purpose of this paper is to present the risks implied by the cloud model in terms of management and compliance, architecture strategies, infrastructure security (including network applications and physical security aspects), data storage, usage and transfer, business operations, ensuring continuity and vendor management, addressing for all the aspects that an organization must constantly refer to if it is to efficiently accomplish its objectives.