BUG

Ok I found the solution:

FIRST:

Check under settings tab for your
Path to Log Files: /home/yourhosting/wp-content/uploads/ithemes-security/backup
AND
Backup Location:/home/yourhosting/wp-content/uploads/ithemes-security/backup

Check these paths and file permissions on the two paths in the settings tab to ensure that the web server can write to them.

THEN YOU CAN ALSO:

I have modified wp-content/plugins/better-wp-security/modules/free/backup/class-itsec-backup-admin.php, changing line 712 to:

add_settings_error( ‘itsec’, esc_attr( ‘settings_updated’ ), $message.$input[‘location’], $type );

This adds the path it’s complaining about to the error box, which makes it much quicker to find and fix it!