According to the veteran IT security vendor, it expects a further rise in related criminal internet activity, as previous years have seen emails on topical subjects such as a flowers, chocolates and other gifts, which route internet users to malware-infected and payment and-harvesting websites.
Researchers with Trend Micro say that they have already identified a number of targeted email scams aimed at luring unsuspecting consumers onto sites which advertise bogus offers on gifts and events for their special day.
Rik Ferguson, Trend's senior security advisor, said that, whilst the popularity of social networks continues to grow and dominate consumers' web time, cybercriminals are shifting their efforts from email to targeted threats on social networking sites.
"While we still expect people's in-boxes and internet searches to be filled with malicious Valentines, we urge people not to let their guard down when it comes to Valentine's messages on social networks", he said.
Ferguson added that recent research from the Online Publishers Association has shown that use of sites offering pure communications such as email and instant messaging has decreased by 41% since 2003.
You can, he says, bet that online criminals are aware of this too and will be tailoring part of their St. Valentines Day Massacre to social networks and new media.
Trend Micro reports that the Christmas holiday just gone saw a surge in the number of holiday themed apps and researchers are expecting to see the same around Valentine's day with over 231 Valentine's-related applications available on Facebook as of yesterday afternoon.
The IT security firm says that, not only do these apps offer application providers the chance to make money through affiliate marketing, they also present an opportunity for information harvesting.
On the malware front, meanwhile, Koobface was already seen distributing `from Santa' videos towards the end of last year.
"I would be surprised not to see a Valentine's themed assault on its favourite social networks," Ferguson said.
It's against this backdrop that Trend Micro reports that it is expecting social network groups - which have already been used to facilitate scams related to unlocking supposedly hidden social network site functions, giveaways and bogus charities - to be recycled for Valentines scams offering to let consumers know who has been looking at their profile or `Ponzi schemes' for Valentines gifts.
According to Ferguson, in reality the luckless loveless will just be handing over their personal - and perhaps even financial details - to fraudsters or unknowingly signing up for repeat mobile subscriptions at rip-off prices.
"The traditional Valentine's greeting is sent unsigned and this can only be a help to scammers who are after your money, your computer and your personal information. I wonder how many people will be able to resist clicking on the link in the Tweet they may receive from `AnonymousValentine'", he said.
And now here's the bad news: "If the Valentines greeting isn't made out of real card, then your Valentine doesn't really love you", he added.