Near as I can tell, this one started life as a legitimate Bucharest tag, and the existing letters were blanked out with white paint and then new numbers drawn over them. There are almost as many innovative ways to make fake tags as there are fake tags!
Having said that, I've seen a few instances of very legitimate-looking tags where the raised letters are clearly one thing, and the machine-painted letters are another. So it appears this technique is sometimes used even by the real tag maker. Makes things a lot clearer. Not.