The security concerns that are related to cloud hosting are muiti-tencancy of the cloud databases, data leakage threat while accessing from hand held devices, security of APIs. Encryption issues and lack of standardisation amongst the cloud providers.
I think individuals fear the unidentified. Anything new individuals fear. It is human instinct to be concerned the reasoning. Nobody really knows how it works or where your data is being saved. They fear about individuals getting a hold of all their private information.
I don't think that it is true, Cloud provide a lot of security of the data. And if data is not secure then it is not secure on any server and anywhere. Many people take additional disaster recovery plan for cloud services so that they can recover from any kind of disaster. So I think that it is fine to use cloud service If you have any doubt you can use additional services.
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