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Is it possible to lock a PDF report is that it can only be read by the receiver and not be printed
What you are referring to, can be achieved with the help of Acrobat DC desktop application and only when you own the pdf and have the rights to edit the security.
You can refer to the help document to know the exact steps- Securing PDFS with passwords, Adobe Acrobat
But this functionality is currently unavailable in the mobile application Adobe Acrobat Reader.