A security device (12, 120), removably affixable to an article, the security device (12, 120) comprising: a housing (16, 160) including a securing pad (42, 420); a locking element disposed within the housing (16, 160); and a strap (20, 200), the strap (20, 200) including: a first end having a latching region), the latching region being insertable into the housing (16, 160); and a second end (48, 480) having a securing side (36, 360); the strap (20, 200) slidingly movable between an open position and a locked position, the locking element engageable with the latching region of the strap (20, 200), and the strap (20, 200), when in the locked position is at least partially retained within the housing (16, 160) and secures the article between the securing pad (42, 420) and the securing side (36, 360) of the strap (20, 200), wherein the locking element includes: a magnetically actuable latch (38, 380), and a flexible locking element (40, 400) biasing the magnetically actuable latch and the latching region of the strap (20, 200) into a locked position, and characterized by a flexible channel element (32, 320) exerting an upward force on the strap (20, 200), wherein the combination of forces applied to the strap (20, 200) by the flexible locking element (40, 400) and the flexible channel element (32, 320), in the locked position, produce a torque upon the strap (20, 200) which serves to allow the securing side (36, 360) of the strap (20, 200) to firmly grip the protected article such that a portion of the article is captured between the securing side (36, 360) of the strap and the securing pad when in the locked position. a housing (16, 160) including a securing pad (42, 420); a locking element disposed within the housing (16, 160); and a strap (20, 200), the strap (20, 200) including: a first end having a latching region), the latching region being insertable into the housing (16, 160); and a second end (48, 480) having a securing side (36, 360); a first end having a latching region), the latching region being insertable into the housing (16, 160); and a second end (48, 480) having a securing side (36, 360); the strap (20, 200) slidingly movable between an open position and a locked position, the locking element engageable with the latching region of the strap (20, 200), and the strap (20, 200), when in the locked position is at least partially retained within the housing (16, 160) and secures the article between the securing pad (42, 420) and the securing side (36, 360) of the strap (20, 200), wherein the locking element includes: a magnetically actuable latch (38, 380), and a flexible locking element (40, 400) biasing the magnetically actuable latch and the latching region of the strap (20, 200) into a locked position, and characterized by a flexible channel element (32, 320) exerting an upward force on the strap (20, 200), wherein the combination of forces applied to the strap (20, 200) by the flexible locking element (40, 400) and the flexible channel element (32, 320), in the locked position, produce a torque upon the strap (20, 200) which serves to allow the securing side (36, 360) of the strap (20, 200) to firmly grip the protected article such that a portion of the article is captured between the securing side (36, 360) of the strap and the securing pad when in the locked position. a magnetically actuable latch (38, 380), and a flexible locking element (40, 400) biasing the magnetically actuable latch and the latching region of the strap (20, 200) into a locked position, and characterized by a flexible channel element (32, 320) exerting an upward force on the strap (20, 200), wherein the combination of forces applied to the strap (20, 200) by the flexible locking element (40, 400) and the flexible channel element (32, 320), in the locked position, produce a torque upon the strap (20, 200) which serves to allow the securing side (36, 360) of the strap (20, 200) to firmly grip the protected article such that a portion of the article is captured between the securing side (36, 360) of the strap and the securing pad when in the locked position.