Abstract: A security apparatus for alerting an individual that their wallet or the like device has been stolen from their person includes a housing containing an alarm concealed within the wallet and tethered to the individual or another article being carried. The wallet alarm sounds whcn the wallet is removed far enough to tighten and disconnect the tether from the wallet. This action activates the alarm. In another embodiment, a second alarm concealed on the person or in a handbag is also activated simultaneously when the tether is pulled, alerting the wearer as well as the distant thief.