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Cybersquatting is the act of registering a popular Internet address--usually a company name--with the intent of selling it to its rightful owner. Comparing cybersquatting to online extortion, Senator Spencer Abraham, a Michigan Republican, has introduced to Congress the Anti-Cybersquatting Consumer Protection Act.
While many people think the term comes from the movie...the movie was inspired by the term. Catfishing meaning creating a false social media profile usually using other people's photos to lure others into online relationships. This can be a woman pretending to be a man, an older person pretending to be younger, or any other possibility.