The first paragraph of the  ISO 37001 Anti Bribery  gives a good summary of the consequences of corruption

“Bribery is a widespread phenomenon. It raises serious social, moral, economic and political concerns, undermines good governance, hinders development and distorts competition. It erodes justice, undermines human rights and is an obstacle to the relief of poverty. It also increases the cost of doing business, introduces uncertainties into commercial transactions, increases the cost of goods and services, diminishes the quality of products and services, which can lead to loss of life and property, destroys trust in institutions and interferes with the fair and efficient operation of markets.”

There is much more, such as exposing the event stakeholders and the event company staff and volunteers to criminal and civil legal action way into the future. It spreads rapidly and disadvantages the honest and ethical suppliers. The consequences of corruption are multiple, hidden and not obvious until well after the event, if at all. The primary result is the lack of trust. In asset management terms, it diminishes social capital. As it is secret, once it takes hold there is very little the event team can do to re-establish trust. If the event company uses bribes to ‘facilitate’ or is involved in kickbacks,  they will be suspicious of all other transactions. It poisons the work and relationships.