A security device for attachment to an article to deter theft has a housing containing an alarm system including an audible alarm speaker. The alarm system includes a conductor located within the housing which forms a loop that extends at least partially about the alarm speaker or about the periphery of the housing. The conductor which can be an electrical conductor, fiber optic conductor, light pipe, etc., when severed by a thief will actuate the audible alarm. In another embodiment, the conductor forms a loop about a simulated speaker grille formed in the housing to prevent tampering, wherein the audible alarm is located in the housing remote from the simulated speaker grille.