In this lesson, Nick Palazzolo, CPA, dives into the critical topics of confidentiality and privacy, emphasizing the significance of protecting personal and company data from unauthorized access. He discusses the differences between confidentiality and privacy, essential to understanding how to handle sensitive information effectively. Nick explores various methods to safeguard confidential data throughout the design, development, testing, and implementation of applications, highlighting techniques such as data obfuscation and tokenization. He also explains the concept of data loss prevention (DLP) and addresses the financial and operational impacts of data breaches. Furthermore, Nick outlines the necessary controls and data management practices to securely collect, process, store, transmit, and delete confidential data, ensuring compliance with privacy regulations. Through his engaging walkthroughs, he provides insights into the practical application of these concepts in real-world scenarios.