Abstract: An alarm system for a wallet (or briefcase) includes a normally-closed mechanical switch in series with a light sensitive switch, a source of current, and an audio alarm. When the wallet (or briefcase) is open, the light sensitive switch is exposed to light and is thus "open" to prevent current flow. When the wallet (or briefcase) is closed, the light sensitive switch is shielded from light and is thus "closed" to allow current flow. The mechanical switch is held open by the presence of a credit card (or a file folder, etc.). Thus if the wallet (or briefcase) is closed while the credit card (or file folder, etc.) is absent, both switches are closed and the audio alarm is actuated. In a second embodiment, a photosensitive switch actuates an alarm when exposed to light to signal an open drawer.