This document provides an overview of risk management, including what it is, who uses it, and how it is applied in customs. Risk management is a systematic process to identify, analyze, and address risks. It involves establishing the context, identifying and analyzing risks, evaluating them, treating risks, and ongoing communication, monitoring and review. Customs administrations use risk management principles strategically, operationally and tactically to facilitate trade while maintaining control over cross-border movement of goods and people. Key aspects of applying risk management in customs include risk profiling, targeting high-risk transactions for examination, and regularly reviewing and updating risk assessments.