The veteran IT security vendor said that cloud computing is a trend that will amplify security threats to companies who are increasingly becoming over-reliant on cloud computing suppliers,
The report said that cloud computing - which is being driven by the current financial climate - is poised to take off and grow exponentially, but cautions that the nature of the cloud makes it an attractive target to hackers.
Hackers, Trend Micro said, are being drawn to the ease of going after a single cloud serving various customers and taking down "multiple systems secured the same way".
"This creates the potential for one customer to get caught up in the bad guy's attempts to take a fellow customer offline", said the report.
Also on the bad news front is the possibility that cloud customers are open to potential problems in the event that their cloud service supplier goes out of business.
Enterprises must fully assess vendors' security systems, as they will be reliant on the provider's due diligence, Trend Micro said.
"Many organisations are just waiting for a security model for the cloud which they can own and move with them from vendor to vendor", according to the Trend Micro report.