I need to save some extremely confidential information related to my business. Can anyone please tell me some technique through which I can move my data on the cloud without compromising security?

Security regarding what? Loss of data or access to it or illegal access?

For the former, redundancy. Backup of the backup of the backup........

For the latter, personal encryption in addition to cloud service encryption.

I need security for my data and yes securiy against illegal access too.
But I am afraid that my backup can also be leaked.
U mean I should not use cloud as a backup?

If you or anyone you allow access to the data need easy access whenever and almost wherever, then go cloud. Just make sure that you have other means of backup.

Backup leaks cannot totally be prevented. The cloud service team will probably have access to your data and you have no control over what they do. That is why I said you can personally apply encryption to your backup before storing them on cloud. The current strongest encryption algorithms will probably take years if not decades to be cracked by the strongest computers in the market. And you can use a combination of these algorithms. If you can't trust these algorithms, what can you trust?

If you don't need access to the data on the go, don't bother going cloud. Unless of course if you are an enterprise and require professional management of your data.

I do not possess much expertise in computer, so applying algorithms will be a bit tricky for me. Can you tell me some easy way of encryption? Like some sort of software?

Strong encryption, at your end before the data is sent into the cloud, is the key (excuse the pun). There are cloud storage services which will encrpyt while passing the key into your possession, but it's easy enough to do yourself anyway.

That said, if it is 'extremely confidential' then perhaps you should be rethinking whether you want to entrust it to a third party at all.

Hmm GnuPG + one of its frontend applications.

Thanks alot guys for helping me out. I will try doing what you people said and will update you for sure.

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