Inaccurate terminology "Monitoring", yes... "security", no (unless you have a link-up to a security company or police so that they'll be dispatched for "alarms" --especially for that price).
Hmmm, what else could it be used for? ...oh, yeah! letting anyone else tap into the system (snoops, hacking, warrant[less], whatever) ...yum!
"...but ya doesn't hasta call me Johnson!"