Plugin has notifications system for sending emails to administrators about security related events, daily and weekly digests and instant notifications.
You can set which emails will be used for sending notifications, and you can even completely disable the notifications system (this is not recommended).
You can set daily and weekly digests. Digest will contain overview of logged events for previous day or previous week. Weekly digest is sent every Sunday. Digest contains all events, but you can disable some of the events from appearing in the digest.
Instant notifications are sent as soon as the event is logged, for each event. And, you can select which events will generate instant notifications.