This code has never been put on a laptop or box that ventured outside the company to do work local at another site? If it has, there is no material difference.
There is nothing inherent in the cloud that prohibits security. What policies are laid on top of the resources gives security.
There are apps that are disconnected from the entire internet. Or pretty much stationary on single systems ( or LAN cluster of systems). However those are relatively few.
When the FBI seizes a box that has data connected to an investigation on it, and your stuff happens to be on the same physical box there's a difference between the cloud and a laptop.
There are *myriad* security differences, because security does not exist in a "Secure"/"Not Secure" binary.