LBAC - Restrict visibility to shared folders

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Hi,

Unable to add / change permission for seeded folders except custom in Shared folder, Is it recommended?
our goal is to restrict visibility when accessing in non-whitelisted network > users should not have visibility of Shared folder & My Folder - should not be able to run the reports/ create new reports
Any pointers on this would be really helpful.

REF : Fusion BI - Location Based Access Control (LBAC) in OTBI and BI Publisher ( Doc ID 2706891.1 )

Any pointers on this would be really helpful on how to achieve this.

Thanks,

Ankit