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DENVER (KDVR) — Valentine’s Day is one of the biggest draws for scammers.

A study from the FBI and Social Catfish shows COVID-related romance scams are now raking in more than $200 million. Scams reach their peak during the winter, especially right before Valentine’s Day.

Financial expert Matthew Goldstein spent years investigating fraud. He warned that crooks target the lonely looking for companionship during Valentine’s Day, especially during the pandemic.

“Two years of being locked up, people are feeling alone, and so it really opens up a lot more people to build relationships online,” he said.

Goldstein explained that dating scams run rampant because crooks can be patient, taking months to gain their victim’s trust.

“It is a big red flag If somebody after weeks or months starts talking about money problems and they say something like, ‘I hate to ask, but I just need a little bit of help here,'” he said.

While the request may appear as a one-time favor, it soon snowballs into something much bigger.

“They just ask for more and more until they ask for a lot and that’s when of course you never see your money again,” Goldstein said.

Advice for stopping online scammers

Scams can be reported to the Colorado Attorney General’s Office at stopfraudcolorado.gov. Here’s what to look out for.

Colorado’s First Judicial District Attorney’s Office warns that online scammers can pretend to be anyone, anywhere and advises anyone using apps to be cautious about moving to offline communication.

Users should ask questions and look for inconsistencies and be wary of demands for undivided attention. It is also a good idea to talk to a trusted friend and get a second opinion about interactions and, above all, never provide money, personal financial information or identification details.

Goldstein said if you are approached by someone asking for money, simply say no.

“Say, ‘I’m sorry you have that problem, but I’m not going to give you any of my money,” he said.

Other red flags include refusing to meet in person or even do video chats.