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In this scenario a deployed smart contract should have and retain full control of the funds (excluding BPs of course) on the account. How can one stop transfers from an account by the account owner?

Also deployment of a new version of a smart contract needs to be disabled. Otherwise the owner of the account can add functionality to, e.g., give him/herself access to all funds.

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If the contract owner wants to give up rights to update the contract or make transfers, they can change the contract owner and active permissions to eosio using cleos set account permission:

$ cleos set account permission <contract> active eosio owner -p <contract>
$ cleos set account permission <contract> owner eosio -p <contract>

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