Backpage hosts online classifieds, much like the ever popular Craiglist, and is the second largest provider of this service in the US. On the site people buy and sell items such as furniture, cars and other items. However, the site has come under fire for its adult service section.
The site became the market leader in adult service advertising after Craigslist was pressed into shutting down its adult division in 2010. Backpage became the new go-to for the sex trade, and it did not go unnoticed.
“Sheriff Dart wrote to Visa CEO Charles Scharf and MasterCard CEO Ajaypal Banga to brief them on the role their companies played within the sex trafficking industry and urge them to immediately cut off all association with Backpage’s so-called ‘adult’ section and its less prominent imitators. By Tuesday afternoon, MasterCard agreed to disassociate itself from Backpage, with Visa following suit Wednesday morning.”
According to the Cook County Sherrifs Office, Backpage.com is the sex industries leading profiteer in America. Their primary revenue stream comes through the adult pages, which in April published 1.4 million adult services ads in the US, with an estimated $100 million in revenue for the company.
“Backpage has significantly lowered the barrier to entry for would-be sex traffickers, giving them easy access to millions of johns while cloaking them in anonymity and putting all risk on the shoulders of their victims. Raising that barrier will lead to less would-be sex traffickers entering the business and ultimately fewer victims,” said Sheriff Dart. “I commend Visa, MasterCard and American Express for doing the right thing in defunding this criminal enterprise and joining us in the fight to seek justice for sex trafficking victims across the globe.”
The ads cost anywhere from $5 to
Originally appeared at: http://bravenewcoin.com/news/peer-to-peer-bitcoin-exchange-reaps-reward-of-backpage-fallout/