In this chapter, we provide a conceptual modeling approach for Web services security risk assessment that is based on the identification and analysis of stakeholder intentions. There are no similar approaches for modeling Web services security risk assessment in the existing pieces of literature. The approach is, thus, novel in this domain. The approach is helpful for performing means-end analysis, thereby, uncovering the structural origin of security risks in WS, and how the root-causes of such risks can be controlled from the early stages of the projects. The approach addresses "why" the process is the way it is by exploring the strategic dependencies between the actors of a security system, and analyzing the motivations, intents, and rationales behind the different entities and activities in constituting the system.