“For nearly 60 years, the Summer Youth Employment Program (SYEP) has been a lifeline for young New Yorkers. It’s often their first job, their first step toward economic independence, and their first encounter with the financial system. It is the largest program of its kind in the nation and has positively impacted hundreds of thousands of youth, especially those from communities historically excluded from economic mobility.
The widespread fraud involving SYEP payment cards is deeply disturbing and demands accountability. This wasn’t a failure of the program model, nor of the caring, tireless professionals who make it work. Rather, it was a deliberate exploitation by bad actors, taking advantage of systemic weaknesses in financial safeguards.
What makes this even more egregious is the broader context: young adults in New York City continue to face the highest unemployment rates post‑pandemic. In 2024, the unemployment rate for 16‑ to 24‑year‑olds was still 13.2 percent, 3.6 points above pre‑pandemic levels—and higher than any other age group.
This moment calls for leadership, transparency, and action—not retreat. We need a full investigation into how this fraud occurred, clear public reporting, and genuine accountability for those responsible. That includes strengthening financial safeguards and expanding financial education that meets young people where they are.
SYEP is not the problem; it’s part of the solution. It’s a critical on-ramp to economic opportunity, especially for young adults who continue to face the highest unemployment rates in the city. At a time when New York needs its next generation of talent to thrive, we must protect and strengthen the programs designed to help them succeed.”