Shutter locks are moderately secure, but their protection level depends heavily on the lock type, installation quality, and the strength of the shutter itself.
Against forced entry, basic shutter locks can resist casual attempts like pulling, prying, or using hand tools for a short time. However, many standard models can be defeated by power tools, leverage, or attack on weaker parts such as hinges, hasps, or the shutter slats rather than the lock itself. A lock is only as strong as its mounting points and surrounding material.
Against tampering, simple locks may be vulnerable to picking, cutting, drilling, or bypass methods if they use low-grade materials or exposed mechanisms. Better-quality shutter locks with hardened steel bodies, anti-drill plates, concealed shackles, or internal locking designs offer much stronger resistance. Keyed locks generally provide better tamper resistance than basic padlocks, while security shutters with integrated locking systems are usually harder to defeat than add-on locks.
In practice, shutter locks are effective as a deterrent and can stop opportunistic intruders, but they are not foolproof against determined forced entry. For stronger security, use a high-security lock, reinforce the frame and shutter, ensure proper installation, and combine the lock with alarms, sensors, or surveillance.
If you want, I can also compare shutter locks by security level: basic, medium, and high-security.