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In the recent years, we are assisting to an undiminished, and unlikely to stop number of cyber threats, that have increased the organizations/companies interest about security concerns. Further, the rising costs of an efficient IT security staff and environment is posing a significant challenge. These have created a new fast growing trend named Managed Security Services (MSS). Often customers turn to MSS providers to alleviate the pressures they face daily related to information security. One of the most critical aspect, related to the outsourcing of security issues, is privacy. Security monitoring and in general security services require access to as much data as possible, in order to provide an effective and reliable service. It is the well known conflict between privacy and security, a particularly evident problem in security monitoring solutions. This paper analyzes a scenario of MSS in order to provide a privacy preserving …