A security device includes a plurality of cables which are securable about an item of merchandise with a lockable cable-linking member and a cable-tightening mechanism each connected to the cables in a spaced apart manner. The cable-linking member may include a key member for unlocking the tightening mechanism. The tightening mechanism includes an internal spool and other internal members some of which are related to the locking and unlocking of the tightening mechanism. The tightening mechanism carries sense loops which typically include the cables and which if compromised actuate an onboard audible alarm. The device is configured to sound a security gate alarm upon passing through the gate and upon simply reaching a certain distance from the gate. The tightening mechanism may include a flip-up handle for rotating the spool to tighten the cable.