The arrival of Internet has turned the world into a global village where geographical location or distance has to some extent ceased to be a major obstacle to communication and movement of goods and services. This development has also brought with it cybercrime and its level of sophistication. A lot of measures and institutions are being put in place to minimize the incidence of cybercrime in different countries; also, efforts are being made to identify the contributing factors to cybercrime. This research however, adopts a factor analytic approach to formulate the indices that may contribute to the perpetration of cybercrime. A total of seventy three (73) indices were formulated and used to design a structured questionnaire which was administered on five classes of respondents, using purposive and simple random sampling techniques. The data obtained were analyzed by means of factor analysis by principal component using Statistical Package for Social Sciences (SPSS). Ten factors were extracted and subjected to orthogonal rotation using promax. The contributing factors identified in this study could assist stakeholders to combat the menace of cybercrime.