Yes, CENSORSHIPS is a Scrabble word!

Letter values in Scrabble US: C 3, E 1, N 1, S 1, O 1, R 1, S 1, H 4, I 1, P 3, S 1.

Is it a valid word?

CENSORSHIPS is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

counterintelligence achieved by banning or deleting any information of value to the enemy
deleting parts of publications or correspondence or theatrical performances

Also: security review.