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If you do not have IAM access policy, this policy will still allow the user to change/update their own password but they are restricted in accessing the IAM Console and also the user is restricted in creating their own access keys. They can change/update their password by access their security credentials by following step 1.
If this is your first time login in without MFA you cannot change your password yet you need to setup the MFA first.
To fix this error - please ensure you’ve setup MFA for your account using the steps in the first section of this guide.
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