Corruption as a phenomenon that accompanies the perpetuation of society, being an inherent attribute of any community of individuals, has been known since ancient times. Political elites of all periods paying special attention to it, both in an attempt to define it and to combat and prevent it. For the deep understanding of the essence of the phenomenon of corruption, and not least to elaborate definitions of the notion of corruption, each of the researchers elucidates, from his point of view, the most characteristic features, trends and manifestations. The article is dedicated to reflecting the most pronounced effects and consequences that corruption produces at all levels and fields of social, economic and political life, thus, knowing them, to propose certain solutions regarding prevention and combat.