
Example:
Generate report page on Sigma
Report Generation Methods
1. Manual Report Creation
Create reports on-demand for specific transactions or activities:1
Navigate to Reports
Go to Reporting → All Reports and click Create New Rule
2
Select Report Type
Choose from available report types: - Manual Transaction Report (CTR, FTR,
STR) - For transaction-based reports - Suspicious Activity Report (SAR)
- For activity-based reports
3
Choose Data Source
Select how to populate your report: - Upload CSV: Import transaction data
via CSV file - Select Transactions: Pick from existing Transaction
Monitoring data - Manual Entry: Enter suspicious activity details (SAR
reports only)
4
Configure Report Details
Set up report parameters: - Filing Name: Descriptive name for the report -
Reporting Agent: Authorized person filing the report (configured in
Preferences) - Reporting Entity: Business entity submitting the report
(configured in Preferences) - Report Type: CTR, FTR, STR (for transaction
reports)
5
Review and Generate
Review all details, submit for review, and generate the final report package
2. Automated Rule-Based Generation
Set up intelligent rules that automatically create reports when conditions are met (requires Transaction Monitoring and AI Auto Reports to be enabled):Transaction Threshold Rules
Transaction Threshold Rules
Automatically generate CTR reports for transactions exceeding specified amounts:
Pattern Detection Rules
Pattern Detection Rules
Create STR reports for suspicious transaction patterns:
International Transfer Rules
International Transfer Rules
Generate FTR reports for cross-border transactions:
Report Types and Requirements
Currency Transaction Reports (CTR)
Currency Transaction Reports (CTR)
Purpose: Report large cash transactions that exceed regulatory
thresholds Required Information: - Transaction details (amount, date,
method) - Customer information (sender/receiver) - Account details -
Institution information Typical Triggers: - Single transactions ≥
₦5,000,000 - Multiple related transactions ≥ ₦5,000,000 in one day -
Structured transactions designed to avoid reporting
Foreign Transaction Reports (FTR)
Foreign Transaction Reports (FTR)
Purpose: Report international transfers and foreign exchange activities
Required Information: - Transfer details and amounts - Originating and
destination countries - Purpose of transfer - Customer identification
Typical Triggers: - International wire transfers - Foreign exchange
transactions - Cross-border payments
Suspicious Transaction Reports (STR)
Suspicious Transaction Reports (STR)
Purpose: Report transactions that appear suspicious or potentially
fraudulent Required Information: - Transaction patterns and anomalies -
Reason for suspicion - Customer behavior analysis - Supporting documentation
Typical Triggers: - Unusual transaction patterns - Transactions
inconsistent with customer profile - Attempts to avoid reporting requirements
Suspicious Activity Reports (SAR)
Suspicious Activity Reports (SAR)
Purpose: Report broader suspicious activities that may not involve
specific transactions Required Information: - Description of suspicious
activity - Parties involved - Timeline of events - Actions taken Typical
Triggers: - Money laundering indicators - Terrorist financing concerns -
Other financial crimes
Report Workflow
1. Draft Stage
- Initial report creation with basic information
- Data entry and validation
- Attachment uploads (optional)
- Internal review preparation
2. Pending Review
- Report submitted for review by clicking “Submit for Review”
- Automatic notification to authorized reviewers with “can review reports” permission
- Status visible in dashboard with badge counts for each status
3. Review Process
- Compliance verification by authorized personnel
- Data accuracy checks
- Approval or rejection decisions with comments
- Review logs maintained for audit trail
4. Final States
- Accepted: Report approved and ready for submission
- Rejected: Report rejected with feedback for corrections
- Reviewed: Report reviewed but pending final decision
5. Report Generation & Submission
- Generate final XML report file with attachments using “Generate Report”
- Download report package (ZIP format) containing XML and supporting documents
- Submit directly to NFIU through the platform using “Submit to NFIU”
- Complete audit trail and submission records maintained
Data Requirements
Transaction Data Format
For CSV uploads, ensure your transaction data includes:Required Fields
Transaction Information
Transaction Information
- Transaction Number: Unique identifier - Date: ISO format timestamp
- Amount: Numeric value in local currency - Type: DEPS (Deposit), WTHD (Withdrawal), TRANS (Transfer) - Mode: A (In-branch), B (ATM), C (Electronic), O (Other)
Party Information
Party Information
- Institution Name: Financial institution - Account Number: Account identifier - Institution Code: Bank code (optional) - Country: ISO country code - Funds Code: Source/destination of funds
File Generation and Export
XML Report Format
Sigma generates reports in NFIU-compliant XML format (Schema Version 5.1):Report Package
Generated reports include:- XML File: Main report in regulatory format
- Attachments: Supporting documents organized by transaction
- ZIP Archive: Complete package ready for submission
Best Practices
Data Accuracy
Data Accuracy
- Verify Transaction Details: Double-check amounts, dates, and parties - Complete Customer Information: Ensure all required fields are populated
- Consistent Formatting: Use standard formats for dates, amounts, and codes - Regular Validation: Implement checks to catch errors early
Timeliness
Timeliness
- Meet Deadlines: Submit reports within regulatory timeframes - Monitor Thresholds: Track transactions approaching reporting limits - Automate Where Possible: Use rules to catch reportable transactions - Review Regularly: Check for missed reporting opportunities
Documentation
Documentation
- Maintain Audit Trails: Keep detailed records of all reporting activities - Document Decisions: Record rationale for reporting or not reporting - Store Supporting Evidence: Keep transaction records and documentation - Regular Backups: Ensure report data is properly backed up
Regulatory Compliance: Always ensure reports meet current regulatory
requirements. Consult with compliance officers and legal counsel when in doubt
about reporting obligations.
Report Storage: All generated reports are securely stored and can be
re-downloaded or resubmitted as needed. The system maintains a complete audit
trail of all reporting activities.