Cyberlockers are file sharing sites that allow consumers to upload files to share with others. They continue to increase in popularity, but with them come an added risk for acquiring banks. While many cloud storage services legally store content for users, cyberlockers – also known as file lockers – incentivize users to upload popular files for others to download. Due to the largely unregulated nature of cyberlockers, these files may include illegal content such as child pornography, bestiality, rape violence videos, pirated software, movies, and music due to their popularity and demand. Authorities have begun to crack down on this illegal file sharing, as seen by a recent string of legal actions against file lockers, leading to the closure of file sharing websites and increased regulatory scrutiny for cyberlockers and their acquirers.
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Post Categories: Blog, High-risk Merchants, Prohibited Content
