The Fusarium fungus is known to produce fumonisin, a naturally occurring mycotoxin associated with chronic adverse health effects in animal liver and kidney, which is commonly found in corn (Zea mays L.), one of the major agricultural crops and staple foods in the Philippines. The objective of this study was to develop a profile of the potential risks associated with the consumption of corn contaminated with fumonisins B1 (FB1) and B2 (FB2). This study involved the determination of data gaps in the risk profiling process; identification, and characterization of fumonisin; estimation of the dietary exposure (DE) and risk based on identified uncertainties, variabilities, and assumptions; and determination of available risk management options for fumonisin in corn. Fumonisin levels of corn samples (n = 77) were all below the 4000 μg/kg maximum level (ML) set in the 2019 edition of the Codex General Standard for Contaminants and Toxins in Foods (Codex GSCTFF) for raw corn grains. At the 97.5th percentile consumption of corn [yellow, white, green (or sweet) corn; edible portions (corn kernels)], the calculated DE estimates of the Filipino adult (20–59 yr old) exceeded the provisional maximum tolerable daily intake (PMTDI) of 2 μg/kg bw (body weight)/d by 420.17% (maximum FB1), 194.30% (maximum FB2), and 189.81% (overall FB1 mean). Considering the assumptions made and the gathered data in this study, the estimated DE to fumonisin in corn showed an appreciable risk to health. The current ML of fumonisin in corn and corn products adopted from Codex GSCTFF may be in need to be revisited to ensure the protection of the adult Filipino consuming population.