If I'm not mistaken, a cyber squatter is somebody who registers domain names that have absolutely nothing to do with anything that they are actually involved in, simply so that they own the domain name. Lots of companies that were late in trying to establish a presence on the web found out when they tried to register the most obvious domain name for their business that someone else had beaten them to it, and when the owner of the domain name was contacted, they attempted to sell it to them at a premium.
The powers that be with regard to domain names have begun to respond to the problem, and have in many cases taken domain names away from their registered owners and given them out to the companies that they logically are based on, but to the best of my knowledge, that requires the company to go through a fairly involved procedure.
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If I am mistaken, then maybe a cyber squatter is somebody who likes to poop on other people's keyboards when they're not looking.