What exactly is it supposed to be an acronym for? MAFIAA at least has a clear meaning ("Music And Film Industry Association of America"), but FBIAA seems to only stand for "Federal Bureau of Investigation Agents Association", which doesn't have anything to do with copyrights.
I think it's an acronym portmanteau rather than straight up initialism.
I read it as an accusation, basically - "the FBI is effectively doing the bidding of the MPAA/RIAA."
Foreign Business Intimidation Association of America