Private sector corruption is a widespread problem and a highly relevant topic for businesses and authorities alike. In a business context, corruption can affect the entire supply chain, distort markets and weaken competition. This session will explore the differences between public sector and private sector corruption, the various forms it can take and its consequences on society as a whole. Taking the perspective of the businesses, the compliance function and the authorities we will also discuss the challenges of prosecution private corruption and appropriate responses, including what measures can be implemented to prevent it and how effective anti-corruption ethics and compliance programmes should look like. The panel will also focus on recent developments, including the effects of the pandemic and the impact of recent ESG-related regulation.