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What can a IAM user do?

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A user can place requests to web services such as Amazon S3 and Amazon EC2. A user's ability to access web service APIs is under the control and responsibility of the AWS account under which it is defined. You can permit a user to access any or all of the AWS services that have been integrated with IAM and to which the AWS account has subscribed. If permitted, a user has access to all of the resources under the AWS account. In addition, if the AWS account has access to resources from a different AWS account, its users may be able to access data under those AWS accounts. Any AWS resources created by a user are under control of and paid for by its AWS account. A user cannot independently subscribe to AWS services or control resources.

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