Times leader censures pitfalls (5)
I believe the answer is:
traps
'pitfalls' is the definition.
(I have seen 'The pitfalls' mean 'traps' so perhaps 'pitfalls' could also mean 'traps')
'times leader censures' is the wordplay.
'times leader' becomes 'T' (first letter of 'Times').
'censures' becomes 'raps' (I've seen this in another clue).
't'+'raps'='TRAPS'
(Other definitions for traps that I've seen before include "jazz percussion?" , "tricks" , "Pony carts; ensnares" , "Captures" , "Corners" .)