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One of the interesting features of (social) account recovery in Kusama is that "If some one tries to initiate recovery for your recoverable account, you can close the process and kind of punish them by withdrawing their recovery deposit".

Hence, my question is how can a recoverable account get notified when a recovery process is initiated? (if the only way is listening to the events, which indexer provides such data?)

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If you want to notify the user exactly when a recovery process for their account has started, there will be a Pallet Event RecoveryInitiated when the recovery process has started, which can be listened for. You would basically need an active node or block explorer listening for these events, and some way to actively push a notification to the user.

You can also look at the ActiveRecovery storage for a user to get the status of the recovery process passively, for example when a user interacts with your UI. This would allow any UI to at least notify the user that a process is active, even though it may not be exactly right when it started. The recovery delay period should be long enough to allow a user to still notice there is a recovery and stop it if necessary.

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