An anti-theft device monitors objects having a shaft, strap, or similar element. The anti-theft device is comprised of a two components hingably connected together. The two components can move from an open position to a closed position to enclose the shaft or similar element. One component has a first latch element and contains electronics including an arming switch. When the two components are moved to the closed position, the other component changes the status of the arming switch. The other component has a second latch element which combines with the first latch element to hold the two components in the closed position. The anti-theft device may be armed or disarmed by a remote device. The latching elements may be releasably lockable and may be released by a magnet. The anti-theft device may have passcode protection capabilities.