Is this possible: Use a bucket policy to allow read and write access to IAM groups?

You have created a new S3 bucket and you would like to configure read and write access to this bucket, only for users who are members of the Development, Test and QA teams. Each team has a different IAM Group defined in AWS. Which of the following is the simplest way to configure this?

As per Acloud Guru, the selected answer is "Use a bucket policy to allow read and write access to the Development, Test and QA IAM groups"