An electromechanical cable lock system comprising an electromechanical locking mechanism including a cable having at least one plug end receivable in the locking mechanism and a plurality of slidable locking plates engageable with the plug in said locking mechanism. At least one of the locking plates is capable of movement in a first direction different from the movement of a second of said locking plates in a second direction. The locking plates are driven by a motor-driven cam mechanism. The system includes a card reader or other credential verifying device and an electronic controller for activating the locking mechanism, The system also includes a barrel lock for over-riding the electronic controller. A plurality of features can detect and alarm in the event of tampering or unauthorized entry.