There is outrage in Costa Rica after a Canadian-based payment processor has reportedly screwed over a dozen online gambling sites out of millions of dollars. 

Many of the Costa Rican based Internet gambling businesses were utilizing Smart Banking Systems (SBS), represented by one Ben Waldman. (Editor's Note:  I assume that it not the same Ben Waldman and SBS (Small Business Stick) who works at Microsoft)

"(Ben) Waldman provided the platform for another individual to screw everyone down here and their mother," said one angry operator. "He went through the whole crowd (of Costa Rican-based operators), then disappeared."

Smart Banking Systems bills itself as "Tomorrow's ATM and Credit Card Processing Technology Today"  They claim to be an independent sales organization/merchant service provider involved in the placement of Automated Teller Machines (ATM's) in retail locations and in the processing of Merchant Point of Sale Card Transactions (Visa, MasterCard, Amex, Discover).

"I am owed several hundred thousand dollars from this scumbag," said one operator, who wished not to be identified. Two other operators have notified Gambling911.com of the business practices of Waldman, Chris Connor (an alias) and Smart Banking Systems.

"Please get the message out about these pariahs. Everyone reads Gambling911.com and needs to know."

Since passage of the Unlawful Internet Gaming Enforcement Act (UIGEA), the online gambling sector has had a tough time finding "reliable" processing companies in which to conduct business with.

Christopher Costigan, Gambling911.com Publisher