A padlock comprises a lock body including at least one passage defined therein. A shackle is displaceable between open and secured positions. The shackle has at least one leg which is slideable within the at least one passage and which includes a notch. A locking member is accommodated within the lock body and is displaceable between unlocked and locked positions. The locking member is preloaded towards the locked position to engage the notch to inhibit movement of the shackle from the secured position into the open position. One of the at least one passage and the at least one leg defines at least one recess. The other one of the at least one passage and the at least one leg defines at least one projection that extends into the at least one recess.