The answer is False. This is a very tricky question and it has to be read and understood well before answering.
It is always the other way around. Cloud consumer's security increases when you move from Software as a service model to Infrastructure as a Service Model.

Explanation/Reference:

All privileged user accounts should use multi-factor authentication(MFA). If possible, all cloud accounts(even individual user accounts) should use MFA. It's one of the single most effective security controls to defend against a wide range of attacks. This is also true regardless of the service model: MFA is just as important for SaaS as it is for IaaS.
Reference: CSA Security GuidelinesV.4(reproduced here for the educational purpose)