The present study addresses the issue of shared management of transboundary water resources, using the Amazon river basin as a case study. To evaluate risks, two scenarios (current and future) were simulated using the methodology proposed by the Transboundary Waters Assessment Programme River Basins. The results obtained allowed the inference that the Amazon Basin, considering all indicators, is in the “moderate” category of risk within the current scenario. In turn, when only the “governance” indicator is considered, reflected through projected water politics tensions, the risk category for the basin becomes “high”, both in the current and future scenarios (2030 and 2050). In conclusion, it is recommended that states should establish clear priorities and rules for water resource monitoring, use and supervision.