An item loss prevention system for protecting from the loss of items from a user, and more specifically to an electronic device utilizing a wireless connection between a remote unit attached to an item, such as a set of one or more keys, and a host or belt unit attached to the user, to prevent the loss of the item. The system includes magnetic sensors between the item and the belt, which are Hall type magnetic sensors. An alarm activates when the item attached to the remote unit, such as a key is separated from the host unit. A multiple of additional host units and the remote units pairs can operate properly in proximity to each other, and are tuned to respond to rolling average signal strength monitoring, to indicate a separation distance requiring an alarm to the user.