A locking device is provided for locking a container having sidewalls and at least one lid defining an open position and a closed position. The locking device may include an elongate lock member configured to engage the lid(s) and a lock housing that is associated with at least one of the sidewalls. The lock housing may be configured to at least partially receive the elongate lock member. The locking device may be designed to be installed on the container in the field, or the locking device may be integrally formed with the container. The lock housing may include a security element that is detectable by a security system to guard against theft of the container. In some cases, a security module is provided that releasably attaches to the lock housing to provide further alarm functionality.