Arsenic (As) is a naturally occurring metalloid and Class-A human carcinogen. Exposure to As via direct intake of As-contaminated water or ingestion of As-contaminated edible crops is considered a life threatening problem around the globe. Arsenic-laced drinking water has affected the lives of over 200 million people in 105 countries worldwide. Limited data are available on various health risk assessment models/frameworks used to predict carcinogenic and non-carcinogenic health effects caused by As-contaminated water. Therefore, this discussion highlights the need for future research focusing on human health risk assessment of individual As species (both organic and inorganic) present in As-contaminated water. Various conventional and latest technologies for remediation of As-contaminated water are also reviewed along with a discussion of the fate of As-loaded waste and sludge.