diff --git a/ktlint-ruleset-standard/src/main/kotlin/com/pinterest/ktlint/ruleset/standard/rules/PropertyNamingRule.kt b/ktlint-ruleset-standard/src/main/kotlin/com/pinterest/ktlint/ruleset/standard/rules/PropertyNamingRule.kt
index b604267bb4..375329afb4 100644
--- a/ktlint-ruleset-standard/src/main/kotlin/com/pinterest/ktlint/ruleset/standard/rules/PropertyNamingRule.kt
+++ b/ktlint-ruleset-standard/src/main/kotlin/com/pinterest/ktlint/ruleset/standard/rules/PropertyNamingRule.kt
@@ -11,6 +11,7 @@ import com.pinterest.ktlint.rule.engine.core.api.ElementType.OVERRIDE_KEYWORD
 import com.pinterest.ktlint.rule.engine.core.api.ElementType.PRIVATE_KEYWORD
 import com.pinterest.ktlint.rule.engine.core.api.ElementType.PROPERTY
 import com.pinterest.ktlint.rule.engine.core.api.ElementType.PROPERTY_ACCESSOR
+import com.pinterest.ktlint.rule.engine.core.api.ElementType.PROTECTED_KEYWORD
 import com.pinterest.ktlint.rule.engine.core.api.ElementType.VAL_KEYWORD
 import com.pinterest.ktlint.rule.engine.core.api.RuleId
 import com.pinterest.ktlint.rule.engine.core.api.SinceKtlint
@@ -53,7 +54,7 @@ public class PropertyNamingRule : StandardRule("property-naming") {
                     property.hasCustomGetter() || property.isTopLevelValue() || property.isObjectValue() -> {
                         // Can not reliably determine whether the value is immutable or not
                     }
-                    property.isBackingProperty() -> {
+                    identifier.text.startsWith("_") -> {
                         visitBackingProperty(identifier, emit)
                     }
                     else -> {
@@ -73,6 +74,27 @@ public class PropertyNamingRule : StandardRule("property-naming") {
             ?.let {
                 emit(identifier.startOffset, "Backing property name should start with underscore followed by lower camel case", false)
             }
+
+        if (!identifier.treeParent.hasModifier(PRIVATE_KEYWORD)) {
+            emit(identifier.startOffset, "Backing property name not allowed when 'private' modifier is missing", false)
+        }
+
+        identifier
+            .treeParent
+            ?.treeParent
+            ?.children()
+            ?.filter { it.elementType == PROPERTY }
+            ?.mapNotNull { it.findChildByType(IDENTIFIER) }
+            ?.firstOrNull { it.text == identifier.text.removePrefix("_") }
+            ?.treeParent
+            .let { otherProperty ->
+                if (otherProperty == null ||
+                    otherProperty.hasModifier(PRIVATE_KEYWORD) ||
+                    otherProperty.hasModifier(PROTECTED_KEYWORD)
+                ) {
+                    emit(identifier.startOffset, "Backing property not allowed when matching public property is missing", false)
+                }
+            }
     }
 
     private fun visitConstProperty(
@@ -129,22 +151,6 @@ public class PropertyNamingRule : StandardRule("property-naming") {
             containsValKeyword() &&
             !hasModifier(OVERRIDE_KEYWORD)
 
-    private fun ASTNode.isBackingProperty() =
-        takeIf { hasModifier(PRIVATE_KEYWORD) }
-            ?.findChildByType(IDENTIFIER)
-            ?.takeIf { it.text.startsWith("_") }
-            ?.let { identifier ->
-                this.hasPublicProperty(identifier.text.removePrefix("_"))
-            }
-            ?: false
-
-    private fun ASTNode.hasPublicProperty(identifier: String) =
-        treeParent
-            .children()
-            .filter { it.elementType == PROPERTY }
-            .mapNotNull { it.findChildByType(IDENTIFIER) }
-            .any { it.text == identifier }
-
     private companion object {
         val LOWER_CAMEL_CASE_REGEXP = "[a-z][a-zA-Z0-9]*".regExIgnoringDiacriticsAndStrokesOnLetters()
         val SCREAMING_SNAKE_CASE_REGEXP = "[A-Z][_A-Z0-9]*".regExIgnoringDiacriticsAndStrokesOnLetters()
diff --git a/ktlint-ruleset-standard/src/test/kotlin/com/pinterest/ktlint/ruleset/standard/rules/PropertyNamingRuleTest.kt b/ktlint-ruleset-standard/src/test/kotlin/com/pinterest/ktlint/ruleset/standard/rules/PropertyNamingRuleTest.kt
index 2963208bbd..347c03fa20 100644
--- a/ktlint-ruleset-standard/src/test/kotlin/com/pinterest/ktlint/ruleset/standard/rules/PropertyNamingRuleTest.kt
+++ b/ktlint-ruleset-standard/src/test/kotlin/com/pinterest/ktlint/ruleset/standard/rules/PropertyNamingRuleTest.kt
@@ -119,7 +119,7 @@ class PropertyNamingRuleTest {
     }
 
     @Test
-    fun `Given a backing val property name having a custom get function and not in screaming case notation then do not emit`() {
+    fun `Given a backing val property name, not in screaming case notation, and having another property with a custom get function then do not emit`() {
         val code =
             """
             class Foo {
@@ -132,6 +132,43 @@ class PropertyNamingRuleTest {
         propertyNamingRuleAssertThat(code).hasNoLintViolations()
     }
 
+    @Test
+    fun `Given a backing val property name, not in screaming case notation, and having another property with a custom get function with public modifier then do not emit`() {
+        val code =
+            """
+            class Foo {
+                private val _elementList = mutableListOf<Element>()
+
+                public val elementList: List<Element>
+                    get() = _elementList
+            }
+            """.trimIndent()
+        propertyNamingRuleAssertThat(code).hasNoLintViolations()
+    }
+
+    @ParameterizedTest(name = "Modifier: {0}")
+    @ValueSource(
+        strings = [
+            "private",
+            "protected",
+        ],
+    )
+    fun `Given a backing val property name, not in screaming case notation, and having having another property with a custom get function with non-public modifier then do emit`(
+        modifier: String,
+    ) {
+        val code =
+            """
+            class Foo {
+                private val _elementList = mutableListOf<Element>()
+
+                $modifier val elementList: List<Element>
+                    get() = _elementList
+            }
+            """.trimIndent()
+        propertyNamingRuleAssertThat(code)
+            .hasLintViolationWithoutAutoCorrect(2, 17, "Backing property not allowed when matching public property is missing")
+    }
+
     @Test
     fun `Given a backing val property name containing diacritics having a custom get function and not in screaming case notation then do not emit`() {
         val code =
@@ -266,8 +303,8 @@ class PropertyNamingRuleTest {
                 LintViolation(1, 11, "Property name should use the screaming snake case notation when the value can not be changed", canBeAutoCorrected = false),
                 LintViolation(3, 5, "Property name should start with a lowercase letter and use camel case", canBeAutoCorrected = false),
                 LintViolation(6, 9, "Property name should start with a lowercase letter and use camel case", canBeAutoCorrected = false),
-                LintViolation(9, 17, "Property name should start with a lowercase letter and use camel case", canBeAutoCorrected = false),
-                LintViolation(12, 9, "Property name should start with a lowercase letter and use camel case", canBeAutoCorrected = false),
+                LintViolation(9, 17, "Backing property not allowed when matching public property is missing", canBeAutoCorrected = false),
+                LintViolation(12, 9, "Backing property name not allowed when 'private' modifier is missing", canBeAutoCorrected = false),
             )
     }
 }